Bitcoin Hit Supply, but the Macro Bid Is Still ThereBitcoin / U.S. dollarBITSTAMP:BTCUSDEvelyn_ReedBitcoin finally reached the 81–83k supply area and got rejected. That reaction makes sense technically. It is the same zone where sellers were active before, and price had moved very fast into it. But the backdrop is still supportive. Spot Bitcoin ETFs took in about $308 million on August 21, $338 million on August 24 and another $314 million on August 25. So even after the rally, institutional flows have not disappeared. The broader macro story matters too. Bitcoin moved above $80k this week as the dollar weakened and Treasury buybacks pushed investors back toward the “debasement trade” — the same theme supporting gold. That is why I would not treat the current rejection as automatically bearish. The 72.8–74k area is still the more important level. It was resistance before the breakout and now becomes the first major support test. If buyers defend it, the move still looks like a healthy reset after a very fast expansion. If that zone fails, then the rally starts to look more dependent on momentum than on lasting demand. The next real macro test is Jackson Hole. Markets want clarity from Fed Chair Kevin Warsh on whether higher long-term yields are already doing enough tightening, or whether the Fed still sees room for another hike. Bitcoin has met supply, but the macro bid underneath it has not disappeared yet.