Bitcoin stalls near $83,000 as $35 million sell wall builds above $85,000

BTC traded close to $83,000 on October 11, experiencing significant swings during the previous week after falling back from above $87,000. Although Bitcoin has rebounded from lows near $80,000, analysts continue to highlight considerable resistance ahead. Crypto trader BATMAN stated on October 10 that Bitcoin is facing over $35 million in sell orders situated between $85,000 and $89,000. He marked $85,000 as the first major barrier for the cryptocurrency, noting that buyers would need to absorb this volume for any sustained move higher.

Source: CoinTurk News