'BTC OG Insider Whale' Representative: Bitcoin's Consolidation Is Not Over Yet, the $82,500 Level Remains Key

BlockBeats news, September 10 — Garrett Jin, agent for the "BTC OG Insider Whale," stated in his latest weekly report that Bitcoin previously peaked at $82,300 but failed to hold and fell back into its consolidation range, suggesting the current consolidation may be far from over — possibly not even halfway through.

Garrett noted that the biggest short-term change is not the long-term direction, but the deterioration in trading conditions. Spot buying remains present but has weakened, and is temporarily insufficient to absorb selling pressure above $82,000. As a result, the risk-reward ratio for chasing rallies or shorting into strength within the current range is unfavorable, and waiting may be the better choice.

If BTC reclaims $82,500 with stronger spot demand, the next resistance zone is approximately $83,000 to $86,000; if it fails to break through, attention should be paid to support at $76,000 to $77,000, and a breakdown below that could quickly test $74,000 to $75,000, with a further important demand zone at $72,000 to $72,500. Garrett still believes there is roughly a 70% probability that $60,000 below $80,000 is the cycle low, but if BTC falls back to $72,000, volume, selling pressure absorption, and spot demand would need to be monitored to re-validate this judgment.

On the macro front, Garrett maintains a bullish view into year-end but warns that rising oil prices and long-term interest rates are pressuring risk assets. If oil prices pull back and long-end yields stabilize, the year-end rally still has support; if both continue to rise, tech stocks and crypto assets may first experience a deeper correction.

Additionally, his previously favored "memory chip trade" has begun to attract widespread market attention. Garrett believes that AI computing demand not only benefits GPUs but will also continue to drive demand for HBM, DRAM, and related memory, though further upside needs to be driven by continued upward revisions in earnings expectations rather than relying solely on the market rediscovering this theme.