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Bitcoin's $85,000 sell wall is gone and traders are now betting on $100,000
On October 2, Bitcoin reached an intraday high of $87,000 after buyers broke through a sell wall around $85,000. That $85,000 level had stalled several previous attempts to advance.
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What happened
On October 2, Bitcoin reached an intraday high of $87,000 after buyers broke through a sell wall around $85,000. That $85,000 level had stalled several previous attempts to advance.
Confirmed
Global impact / market context
A sell wall is a large group of sell orders that can stop price rises. Breaking through it suggests buyers absorbed those orders, which may let Bitcoin approach the $90,000 test and potentially the $100,000 level traders are now betting on.
Analyst inference
A rare accumulation pattern, meaning steady buying that builds holdings, has reappeared while sell-side liquidity, that is available sell orders, is thinning. With fewer sellers above the market, each new buy can move the price more easily, supporting the rally toward $90,000.
Analyst inference
What to watch
- Bitcoin's rally is approaching a $90,000 test, so watch whether buyers can push the price through that level after the $85,000 sell wall was broken. Confirmed
- Traders are now betting on $100,000. Watch whether that target draws more buying or encourages existing holders to sell into the rally near prior highs. Proposed
- Watch whether the rare accumulation pattern, which means steady buying that builds holdings, persists and sell-side liquidity stays thin. If either fades, upward pressure could weaken before $90,000. Analyst inference
Affected assets
- BTC — Bitcoin