Bitcoin Breaks Sell Wall, Sees Path to $100,000 as Traders Rebuild Exposure
Bitcoin has broken through its $85,000 sell wall and is now heading towards its next major test at $90,000. According to data from Glassnode, some of the orders that were previously placed around $85,000 had been filled or withdrawn, leaving a smaller concentration of asks in the area.
At the same time, a rare accumulation pattern has reappeared on CryptoQuant's Bitcoin Accumulation Trend chart. This pattern, which involves bands contracting and signaling a potential shift in market momentum, has previously coincided with sharp advances in the past.
The latest contraction on the chart is similar to two previous episodes in 2025, when Bitcoin surged from around $84,000 to over $109,000. While this pattern is not conclusive, it adds another bullish signal to a market that has already reclaimed several key cost-basis levels.
Bitcoin has also moved decisively through Bitwise's $85,000 short-term holder realized-price band, pushing the market towards a part of the distribution where gains have historically become harder to sustain. As the cryptocurrency approaches the $90,000 mark, it will be met with potential supply from investors who are underwater and approaching breakeven after months of losses.
The disappearance of the sell wall and the contraction on the accumulation trend chart suggest that traders are now betting on a move towards $100,000. Options traders have placed billions of dollars behind this target, with about $2.1 billion of Bitcoin call exposure at the $90,000 strike and $1.8 billion at $100,000.
The macro backdrop has also turned more favorable for risk assets after the US employment report showed a below-expectations increase in jobs. This removes one immediate threat to Bitcoin's advance while leaving the harder test inside the crypto market itself.