Bitcoin Buyers Eye $100K as Sell Wall Vanishes

Bitcoin's rally continues to gain momentum as it approaches the $90,000 test mark. The disappearance of the sell wall at $85,000 has removed a major barrier for buyers, and traders are now placing bets on a price target of $100,000.

CryptoQuant's Accumulation Trend chart shows that bands have begun to contract, reviving a pattern seen before two sharp advances in 2025. This setup adds another bullish signal to the market, which has already reclaimed several key cost-basis levels.

However, the limited number of previous occurrences makes this pattern far from conclusive. Past contractions offer a bullish precedent, but they are too few to establish it as a reliable forecasting tool.

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. Some investors bought above their cost bases, while others bought below. As the market approaches these levels, more holders face a fresh decision after months in losses.

Some may use the recovery to exit near breakeven, while others could hold or add to lower their average purchase price. How much of that returning supply buyers absorb will help determine whether the rally can extend beyond $90,000.