BTC sees limited selling pressure despite some whale profit-taking

Some whale investors have been taking profits and trimming Bitcoin holdings, but overall selling pressure remains limited, according to AMBCrypto. Looking at on-chain indicators over the past three weeks, the outlet said whale holdings fell 0.2% while retail investor holdings rose 0.09%, suggesting retail buyers have been absorbing whale sales. It added retail buying has yet to turn into strong FOMO-driven chasing. From a technical standpoint, BTC still faces strong resistance around $80,000. After starting a sharp climb from $63,000 on Aug. 19, BTC has repeatedly failed to break higher near $80,000, while $75,500 has been acting as a key support level. Based on the relative strength index, upward momentum has also eased somewhat.