Bitcoin Buyers Clear Key Sell Wall at $85K
A significant sell wall on Binance had been keeping Bitcoin prices from climbing above $85,000. However, buyers have cleared this obstacle, reducing the stack of sell orders overhead and increasing the potential for the price to rise.
The sell wall was a large concentration of limit sell orders parked at a specific price, requiring significant buying power to break through. According to Glassnode on-chain data, it tripled in size from September 24 to September 30, 2026.
Bitcoin's struggles to hold above $85,000 were attributed to cooling demand from US spot Bitcoin ETFs and long-term holders cashing in. Despite this, the cryptocurrency remained above several closely watched support levels, including the Short-Term Holder Cost Basis around $73,300 and the True Market Mean near $77,200.