Bitcoin traders are betting on a move to $100,000 following a decisive breakout on October 2, 2026, which saw the price surge past an $85,000 sell wall to reach intraday highs of $87,000. This move is significant because it cleared a high-volume zone of sell orders that had previously rejected Bitcoin’s price multiple times. With this overhead supply absorbed or withdrawn, the current market structure lacks major technical resistance levels until the psychological $100,000 mark.
Data from Glassnode indicates that this rally is being driven by a rare accumulation pattern last seen during early bull cycles. As buyers cleared the $85,000 hurdle, sell-side liquidity on major exchanges thinned out significantly. This suggests that the 'supply shock' is intensifying, as large-scale holders continue to move assets into long-term storage, leaving fewer coins available for purchase on open markets.
The broader market context for this rally includes sustained institutional demand through US-based spot ETFs and a favorable shift in macroeconomic sentiment. As the $90,000 level becomes the next immediate target, the lack of significant 'ask' orders between $87,000 and the six-figure milestone is providing traders with the confidence to enter long positions. The removal of the $85,000 barrier has effectively turned a former ceiling into a foundational support level for this leg of the bull run.
Investors should now watch the $90,000 resistance level and exchange inflow metrics closely. If Bitcoin maintains its momentum and flips $87,000 into support, the path to $100,000 may be reached sooner than analysts previously projected. However, a sudden spike in exchange deposits could signal that whales are preparing to take profits, which might lead to a temporary consolidation before the final push to $100,000.