Bitcoin’s $85,000 sell wall is gone and traders are now betting on $100,000
Bitcoin’s rally is approaching a $90,000 test as a rare accumulation pattern reappears and sell-side liquidity thins. On Oct. 2, Bitcoin registered an intraday high at $87,000 after buyers broke through a sell wall around $85,000 that had stalled several previous attempts to advance. Glassnode said some of those orders were filled and the remainder […] The post Bitcoin’s $85,000 sell wall is gone and traders are now betting on $100,000 appeared first on CryptoSlate.
Bitcoin’s rally is approaching a $90,000 test as a rare accumulation pattern reappears and sell-side liquidity thins.
On Oct. 2, Bitcoin registered an intraday high at $87,000 after buyers broke through a sell wall around $85,000 that had stalled several previous attempts to advance.
Glassnode said some of those orders were filled and the remainder withdrawn, leaving a smaller concentration of asks around $87,000 and less visible liquidity immediately above.
At the same time, bands on CryptoQuant’s Bitcoin Accumulation Trend chart have begun contracting, reviving a pattern seen before two sharp advances in 2025.
The setup adds another bullish signal to a market that has reclaimed several key cost-basis levels, though the limited number of previous occurrences makes the pattern far from conclusive.
Per CryptoQuant, the current contraction resembles two episodes in 2025 followed by sizable gains, giving traders a bullish analog as Bitcoin enters October.
The Accumulation Trend tracks buying and selling behavior across different groups of Bitcoin holders, offering a view into whether supply is being absorbed or distributed. Periods when the chart’s bands narrow sharply have previously coincided with shifts in market momentum.
One contraction occurred between April 17 and April 20, 2025, when Bitcoin traded near $84,000. BTC subsequently climbed toward $109,000, and another appeared between March 5 and March 8 before a separate advance.
Those episodes are too few to establish the contraction as a reliable forecasting tool. However, they do make the latest occurrence more notable because Bitcoin’s broader market structure has improved at the same time.
Related ReadingBitwise said this week that Bitcoin has reclaimed the major cost-basis thresholds it tracks for identifying shifts toward risk-on conditions. Those include the short-term holder cost basis near $73,000, a true market mean around $77,000, and the estimated average cost basis of spot exchange-traded fund investors near $83,000.
Bitcoin has also moved decisively through Bitwise’s $85,000 short-term holder realized-price band, pushing the market toward a part of the distribution where gains have historically become harder to sustain.
The disappearance of the $85,000 sell wall leaves Bitcoin heading directly toward another source of potential supply: investors approaching breakeven after months of losses.
CryptoQuant analyst Darkfost estimates that BTC holders who acquired their assets 18 months to two years ago have an average cost basis near $88,350. The six-to-12-month cohort sits around $89,200 and has been underwater overall for close to a year.