Glassnode Cites Bitcoin Clearing $85,000 Sell Wall
Bitcoin Clears 85,000 Dollar Sell Wall Amid Thinning Order Book Liquidity
The absorption of large volume at that specific price point, combined with the removal of upper-bound sell orders, has left the order book with lighter resistance as market participants monitor incoming spot demand.
Bitcoin Absorbs Selling Pressure as Liquidity Shifts
- Resistance Breakthrough: Bitcoin absorbed heavy selling pressure clustered between 85,000 and 85,500 dollars on the Binance spot order book.
- Liquidity Shift: Upper-bound sell orders were largely removed, altering the market structure for potential price velocity.
- Volume Watch: Daily trading volumes across spot exchanges and U.S. spot ETFs remain near the lower bound of post-launch ranges, signaling that incoming supply and demand will dictate the next leg.
Clearing the Binance Order Book Resistance Zone
The 85,000 dollar threshold served as the most prominent short-term resistance zone in the Bitcoin market since late September. Glassnode noted that large-scale sell orders concentrated heavily in the 85,000 to 85,500 dollar bracket on the Binance spot order book beginning September 24. Multiple tests of the range failed to secure a clear breakout as sell volume tripled over the initial observations.
The dynamic shifted when buyers directly absorbed the resting liquidity. Remaining sell orders above the threshold were subsequently canceled or withdrawn, reducing the aggregate supply barrier that had previously capped price action. With the upper-level sell liquidity thinned out, matching volumes of incoming buy capital can generate more pronounced price movement.
Low Trading Volumes Signal Need for Market Confirmation
Despite the removal of the overhead sell wall, secondary indicators suggest broader market participation requires confirmation. Glassnode analysis indicates that combined daily trading volumes across spot exchanges and U.S. spot exchange-traded funds hover around 6.4 billion dollars, staying near the lower end of the range established since spot ETFs launched.
Frederick Thyssen, an analyst at Glassnode, noted that sustained price maintenance above the true market mean, paired with expanding trade volume, would indicate broader structural support for the ongoing trend. Without concurrent expansion in spot and ETF demand, prices risk revisiting the 85,000 dollar region to test whether former resistance now functions as structural support.
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