Just after they said the wall of sell orders at 85,000 was gone, BTC really touched 87,000—then a giant whale slapped it back, and now it’s hovering around 84,600.
The reason for the suppression was revealed today. Analyst Ali Charts points to two things:
1) The giant whale took profits during the rally, dumping more than 30,000 BTC in one go;
2) 87,000 is right at the top of the channel that has been pressing down on price for more than the past two weeks—technical signals and profit-taking pressure both hit at once.
That bucket of cold water poured in the previous post came true halfway: according to CryptoQuant analyst Darkfost’s data, the cohort of coins bought 18 months to 2 years ago, trapped for a year, has an average cost of about $88,350—and indeed started acting near the break-even line; the cohort bought 6 to 12 months ago, with average cost around $89,200, is still hovering near the edge of being underwater.
How to look at it: this move doesn’t count as a structural breakdown. The sell pressure at 85,000 is really gone. The $6.3 billion in bullish options on Deribit is still betting on the 90,000 to 100,000 zone, so the direction hasn’t changed—only the timing has been disrupted by the whale’s profit-taking orders. In plain terms: breaking the sell wall doesn’t mean an all-green go-ahead; once the trapped profit-taking comes out, someone still has to step in to buy.
Next, keep an eye on one level: 82,500, the lower bound of the channel. Ali believes that if price falls back to this area, and at the same time the whale starts accumulating again, it could be the start of the next leg; if it can’t hold, then 84,000 to 82,000 will grind sideways for a while. A farther reference point is Bitwise’s 90,000 (+1.5 standard deviations) and 95,000—that’s the next major battleground between bulls and bears.
Data as of: 2026-10-03 15:55 UTC
Source: PANews (Ali Charts); Zhitong Finance / Sina Finance (Bitwise, CryptoQuant, Deribit data compilation)
For information sharing only and does not constitute investment advice.
Do you think the 82,500 line of defense will hold? I’ll keep updating my tracking of this kind of market—follow me so you don’t get lost.
$BTC #Bitcoin
The reason for the suppression was revealed today. Analyst Ali Charts points to two things:
1) The giant whale took profits during the rally, dumping more than 30,000 BTC in one go;
2) 87,000 is right at the top of the channel that has been pressing down on price for more than the past two weeks—technical signals and profit-taking pressure both hit at once.
That bucket of cold water poured in the previous post came true halfway: according to CryptoQuant analyst Darkfost’s data, the cohort of coins bought 18 months to 2 years ago, trapped for a year, has an average cost of about $88,350—and indeed started acting near the break-even line; the cohort bought 6 to 12 months ago, with average cost around $89,200, is still hovering near the edge of being underwater.
How to look at it: this move doesn’t count as a structural breakdown. The sell pressure at 85,000 is really gone. The $6.3 billion in bullish options on Deribit is still betting on the 90,000 to 100,000 zone, so the direction hasn’t changed—only the timing has been disrupted by the whale’s profit-taking orders. In plain terms: breaking the sell wall doesn’t mean an all-green go-ahead; once the trapped profit-taking comes out, someone still has to step in to buy.
Next, keep an eye on one level: 82,500, the lower bound of the channel. Ali believes that if price falls back to this area, and at the same time the whale starts accumulating again, it could be the start of the next leg; if it can’t hold, then 84,000 to 82,000 will grind sideways for a while. A farther reference point is Bitwise’s 90,000 (+1.5 standard deviations) and 95,000—that’s the next major battleground between bulls and bears.
Data as of: 2026-10-03 15:55 UTC
Source: PANews (Ali Charts); Zhitong Finance / Sina Finance (Bitwise, CryptoQuant, Deribit data compilation)
For information sharing only and does not constitute investment advice.
Do you think the 82,500 line of defense will hold? I’ll keep updating my tracking of this kind of market—follow me so you don’t get lost.
$BTC #Bitcoin
