According to Glassnode, Bitcoin buyers managed to break through the important sell resistance of $85,000 after nearly a week of repeated attempts.
Resistance was concentrated around $85,000 to $85.5 thousand on Binance, with sell orders increasing significantly before buyers finally absorbed the resistance.
#ZcashFalls21%FromSeptemberPeak
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Glassnode now reports that much of the remaining liquidity for selling above Bitcoin has also disappeared.
#BitcoinFundingRateTriplesTo10%
#CRİPTO
This gives $BTC a cleaner order book structure above $85k, meaning there are fewer visible sell orders for buyers to absorb if demand continues.
$BTC
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The next phase will depend on an increase in trading volume and new demand, since Glassnode previously observed that overall Bitcoin volume remained relatively low and ETF inflows decreased compared to the high levels seen at the end of September.
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The break of resistance at $85k removes an important short-term barrier, but it does not guarantee a continuation of the uptrend.