On October 2, BTC briefly surged to $87,000 during the session, eating through the sell-wall near $85,000 that had repeatedly blocked prior advances. Glassnode said some orders were filled and the rest were canceled, so the sell-side limit order stack above was therefore thinned, but fresh resistance has since appeared again around $87,000. By the snapshot, the price had returned to $84,505. Over the past 24 hours it was down 0.29%, and over the past 4 hours it was up 0.29%. The 24-hour trading range was close to 4%. Trading volume value was up more than 50% from the previous day, suggesting this upswing came with clear turnover rather than a low-volume test.

CryptoQuant’s cumulative trend chart indicator has begun to narrow. This pattern appeared twice in 2025, and both times it was followed by a period of gains—once from April 17 to 20 for BTC around $84,000, after which it moved toward $109,000. With only two samples, it can’t serve as a reliable predictive tool, but together with improvements in market structure, it at least suggests current holdings are being absorbed rather than distributed.

On Deribit, call option open interest is concentrated around $90,000, $95,000, and $100,000, with traders already pricing for higher levels. At the $88,000 to $95,000 range, there are cost lines for underwater holders; once price enters this zone, it is prone to encounter profit-taking pressure. Meanwhile, leverage can amplify drawdowns when positions are rejected.

In related information, some analysis suggests that continued buy pressure above $86,500 is a condition for further upside. There are also signs that spot ETF buying is returning. Another point mentioned that employment data came in below expectations, lowering the probability of a rate hike in October; the macro environment is relatively risk-on for risky assets. These are only background points during the same period and cannot be directly attributed as the cause of the rise or fall.

Risk warning: This article is for informational purposes only and does not constitute investment advice.