Bitcoin Breaks $85K Sell Wall as Traders Target $100K
Bitcoin cleared a significant sell wall at $85,000 on October 2, reaching an intraday high of $87,000 and removing a barrier that had blocked previous rallies. The breakout has thinned sell-side liquidity and prompted traders to set sights on $100,000, according to on-chain analysts.
Written by CoinArticle’s AI Newsroom · from 2 cited sources. How we work
Barrier Removed
Bitcoin buyers pushed through a sell wall at $85,000 on October 2, with the intraday high reaching $87,000. Glassnode data showed that some of the orders at that level were filled while others were withdrawn, according to CryptoSlate reporting. The $85,000 level had previously stalled multiple advance attempts, making its clearance a notable technical event.
Liquidity Shift and Price Targets
With the sell wall removed, sell-side liquidity has thinned considerably, which both sources suggest could increase volatility in the near term. Crypto Briefing noted the breakout could trigger potential price surges. CryptoSlate reported that traders are now betting on $100,000 as the next target, while the market tests resistance around $90,000. The removal of this overhead supply leaves fewer large orders between current price levels and round-number psychological levels.
Accumulation Pattern
CryptoSlate cited a rare accumulation pattern reappearing on the charts alongside the technical breakout. The combination of thinned overhead resistance and renewed buyer interest at lower levels suggests sustained buying pressure, though neither source provided specific on-chain wallet movement data to confirm the accumulation thesis independently.
Why It Matters
For Traders
Reduced overhead supply and thin liquidity between $87K and $100K means limit orders face wider bid-ask spreads; breakeven moves require less volume to move price.
For Investors
Clearing technical resistance with reduced selling pressure suggests conviction among accumulating buyers, though $100K remains speculative without new fundamental catalysts.
For Builders
Higher Bitcoin price and reduced on-chain selling could improve sentiment for alternative-layer collateral and lending protocols that use BTC as backing.
This article is for information only and is not financial advice. Read the full disclaimer.
