Bitcoin · U.S. · U.S. Treasury · Federal Reserve (FED) · The Block
Bitcoin (BTC) climbed above $86,000 on Friday after sellers partly filled and then pulled the remaining asks around $85,000
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Bitcoin was changing hands near $86,700 at the time of writing.
Key facts
- Paul Howard, senior director at crypto market maker and OTC liquidity provider Wincent, told The Block that his expectation for bitcoin to break $100,000 by the end of the year remains intact
- QCP put resistance at $87,400 and support at $82,500, with bitcoin holding the lower level three times this week
- The next group of sell orders sits around $87,000, Glassnode said, with about half as many at that level compared to the old $85,000 wall
- Bitcoin (BTC) climbed above $86,000 on Friday after sellers partly filled and then pulled the remaining asks around $85,000, according to Glassnode, leaving little resistance above, the onchain
Summary
Bitcoin (BTC) climbed above $86,000 on Friday after sellers partly filled and then pulled the remaining asks around $85,000, according to Glassnode, leaving little resistance above, the onchain analytics firm said. The next group of sell orders sits around $87,000, Glassnode said, with about half as many at that level compared to the old $85,000 wall. QCP put resistance at $87,400 and support at $82,500, with bitcoin holding the lower level three times this week. Bitcoin rose 12% in September, QCP noted, while gold fell 8.5% during a month in which the 10-year inflation-protected Treasury yield rose about 44 basis points, while long-term inflation expectations barely moved. The market is now positioning for the post-election period, QCP said, with options positioning showing clients rolling October $90,000 calls into November, the month containing midterms, Treasury refunding, and the December Fed meeting.