TLDR
Bitcoin trades near $78,200, stuck below the $80,000 to $82,000 resistance zone.
More than 71% of BTC’s circulating supply is now sitting in unrealized profit.
Glassnode’s sell-side risk ratio fell to 7 basis points, down from 16 at August’s peak.
US spot Bitcoin ETFs show $723.5 million in net inflows so far this month despite one outflow day.
August CPI data lands September 11, ahead of the September 16 Fed and BOJ decisions.
Bitcoin is trading near $78,200 as of September 10, 2026. Buyers have defended short-term support, but the price has not cleared resistance near $80,000 to $82,000.
The recovery began after Bitcoin bounced off the $60,000 area earlier this year. It has since reclaimed $67,000 and the $72,000 to $74,000 zone.
Short-term support sits between $77,600 and $77,900. A drop below $77,000 would open the door to further downside.
Onchain data shows over 71% of Bitcoin’s circulating supply is now in profit. That figure is close to the historical average of 74.7%.
During May’s consolidation above $82,500, only about 67% of supply was profitable. The higher share now means more holders could sell if price returns to recent highs.
US spot Bitcoin ETFs recorded a $46.6 million outflow on September 8. That followed a volatile stretch, including a $730.9 million inflow day on September 3.
Net ETF inflows for September stand around $723.5 million through the first five trading days.
Sell Pressure Eases On-Chain
Glassnode’s September 9 report shows Bitcoin’s Sell-Side Risk Ratio dropped to 7 basis points daily. That is down from 16 basis points at August’s peak.
Long-term holders accounted for 47% of realized profit in the latest data. That is down from 88% during August’s peak.
Roughly 1.07 million BTC were acquired between $83,000 and $86,000, mostly by long-term holders. That block has barely changed in size over the past 30 days.
Exchange Selling Still Outweighs Buying
Spot cumulative volume delta remained negative on September 8. That means exchange selling still outweighed buying, even as the broader profit-taking trend cooled.
Oil prices have climbed following renewed US-Iran tensions, with Brent crude moving above $100 a barrel.
The Japanese yen has also strengthened ahead of the Bank of Japan’s September 16 meeting, raising questions about yen-funded carry trades.
The August CPI report arrives September 11. The market expects headline inflation near 3.4%, with the Federal Reserve’s next meeting set for September 16.
