Bitcoin Surmounts Sell Wall, Sets Sights on $100,000 Target

Bitcoin has cleared its $85,000 sell wall after buyers broke through it on Oct. 2, sending the cryptocurrency to an intraday high of $87,000.

The disappearance of the sell wall leaves Bitcoin heading directly toward another potential source of supply: investors approaching breakeven after months of losses.

A contraction in CryptoQuant's Bitcoin Accumulation Trend chart has also revived a rare accumulation pattern seen before two sharp advances in 2025, adding another bullish signal to a market that has reclaimed several key cost-basis levels.

The current contraction resembles two episodes in 2025 followed by sizable gains, giving traders a bullish analog as Bitcoin enters October.