Bitcoin is approaching a key on-chain supply zone between $80,000 and $82,500, where a large amount of BTC established cost basis, according to Garrett Jin. A daily close above $82,500 would indicate that selling pressure is being absorbed, while $76,600 is the key downside level near the short-term holders’ cost basis. Three indicators are in focus for signs of weakening demand: ETF inflows, the Coinbase premium, and realized profit/loss. Fund flow data remains positive, with spot Bitcoin ETFs recording eight straight days of net inflows totaling about $2.8 billion, while August has marked the strongest month of the year at roughly $3.3 billion. On-chain realized net profit/loss remains positive, with the 7-day EMA at about $752 million, including roughly $1.1 billion in profits and about $354 million in losses. The data suggests spot demand is absorbing overhead supply, with a healthy path seen as Bitcoin consolidating in the $72,500-$84,000 range.