Bitcoin Blasts Past $85K, $87K Sell Wall Looms Large

Bitcoin surged past the $85,000 barrier, reaching its highest level since September 23rd at $86,857 on Bitstamp before retreating below $86,000.

According to Glassnode, the removal of sell orders around $85,000 left less resistance above the market, allowing Bitcoin to move more quickly through the area.

The $85,000 area had previously been a significant concentration of ask liquidity, but buyers eventually moved through the level after repeated attempts, changing the order-book structure.

Glassnode noted that the next group of sell orders was concentrated around $87,000, roughly half the size of the previous $85,000 wall.