Bitcoin Buyers Clear $85K Sell Wall, Opening Path for Upside
Bitcoin's price may have found a crucial boost after buyers cleared a significant sell wall at $85,000 on Binance. According to a post on X, the removal of this sell wall reduces the stack of sell orders overhead, potentially paving the way for the price to climb. The sell wall, which had tripled in size from September 24 to September 30, 2026, was a major hurdle for Bitcoin's price, as it required a significant amount of buying power to break through. In the week ending September 29, long-term holders started cashing in, with their share of realized profits jumping from 34% to 55%. This has contributed to the cooling of demand from US spot Bitcoin ETFs, which saw net inflows fall sharply after September 22.
Bitcoin's price had been struggling to hold above $85,000 since September 21, when it briefly pushed above $85,248 and printed an intraday high near $85,248. Part of this spike came from roughly $648 million in short liquidations, which added fuel to the rally. However, once the short squeeze ran its course, Bitcoin slipped back beneath the $85,000 level. The True Market Mean near $77,200 and the Short-Term Holder Cost Basis around $73,300 mark the levels where the market's structure would start to look shakier.