Bitcoin Sell Wall at $85,000 Cleared as Market Eyes Upside
Bitcoin has cleared a significant cluster of sell orders at $85,000, potentially easing the path for further gains after a period of consolidation.
Bitcoin buyers have successfully cleared a stubborn sell wall positioned at $85,000, according to a post on X. This removal of concentrated limit sell orders reduces overhead pressure and may allow for more upward momentum.
Data from Glassnode indicated that the sell wall on Binance, located between $85,000 and $85,500, had tripled in size between September 24 and September 30, 2026. Before this clearance, the price had struggled to maintain levels above $85,000.
Bitcoin previously touched an intraday high near $85,248 on September 21, a move supported by approximately $648 million in short liquidations. However, the price failed to hold that level as the short squeeze faded.
Two primary factors contributed to the subsequent price stagnation. US spot Bitcoin ETF demand cooled significantly, with net inflows dropping to $24 million by September 28. Simultaneously, long-term holders increased their profit-taking, with their share of realized profits rising from 34% to 55% in the week ending September 29.
Despite the resistance, Bitcoin maintained support above key levels, including the Short-Term Holder Cost Basis at approximately $73,300 and the True Market Mean near $77,200.
Traders are now monitoring whether the sell wall remains absent, as limit orders can be canceled or replaced at any time. Market participants are also watching for shifts in ETF flows and the ongoing behavior of long-term holders, who have been a primary source of sell pressure near current price levels.
