Bitcoin Sees Fresh Momentum Above $85,000 as Sellers' Liquidity Depletes
Bitcoin has broken through the key resistance level of $85,000, with data from Glassnode and CryptoQuant indicating a weakening of selling pressure and a resurgence of accumulation patterns. According to Woofun AI, the price of Bitcoin has decisively broken through the key long-term resistance level of $85,000, and market attention has now shifted to the psychological threshold of $100,000. This technological breakthrough is not an isolated event; rather, it stems from the combined effects of improvements in on-chain microstructure, a return of institutional valuation anchors, and a shift in macro policy expectations. Bitwise notes that the cost basis is reverting, while Deribit's options positioning suggests a range between $90,000 and $100,000.
The disappearance of the $85,000 resistance level signals a fundamental shift in the market's supply-and-demand dynamics, laying a new foundation for the subsequent price-discovery process. Glassnode's analysis indicates that some sell orders previously piled up in that range have been executed, while the rest were actively withdrawn, significantly reducing the concentration of selling pressure near $87,000 and rendering liquidity above that level much less pronounced.
CryptoQuant's Bitcoin accumulation trend chart shows a sharp contraction in the trading range, a pattern that is extremely rare historically yet mirrors the behavior seen before two major rallies in 2025. According to data compiled by Woofun AI, this accumulation trend chart tracks the buying and selling activities of different holder groups, indicating whether supply is being absorbed or distributed. The concentrated distribution of call options at the $90,000 and $100,000 strike prices indicates strong bullish demand in the market as prices approach these strike levels.
However, rising financing costs are making it increasingly difficult to maintain long positions, and if the rebound reverses, these leveraged positions will face heightened liquidation risk. The improvement in the macro environment has provided an additional catalyst for Bitcoin's rally. Friday's U.S. employment report showed that nonfarm payrolls increased by only 29,000 in September, far below economists' expectations of 90,000; the unemployment rate rose from 4.1% to 4.2%, and August's wage growth figures were also revised downward.