NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: SOL Strategies: The First Solana Treasury Company Listed On Nasdaq
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: SOL Strategies: The First Solana Treasury Company Listed On Nasdaq

There’s a $30 Million Bitcoin Sell Wall That May Halt Any Rally Past $10k

Nick Chong
Nick Chong
1 year ago
3 mins read
XRP

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

The price action over the past few days has undoubtedly been positive for Bitcoin. After building momentum for weeks, the cryptocurrency finally burst past $10,000 this week, hitting a $10,100 high.

Since this initial breach, BTC has slowed. The cryptocurrency has traded within a percentage point of $10,000 for the last 12 hours, barely deviating as bulls and bears clash.

Some say this consolidation is indicative of an impending breach to the upside, yet there’s a rapidly growing sell wall above $10,000. This would indicate that Bitcoin moving higher from here will be very difficult.

Related Reading: Bitcoin Whales Have Been Buying En-Masse Since Early-2020: “Macro Bullish” Sign

There’s a Sell Wall Brewing Above Bitcoin

According to Nik Yaremchuk, a former analyst at crypto fund Adaptive Capital, there’s massive selling pressure building above the Bitcoin price.

Pointing to order book data from Bitfinex, he noted that there is approximately 3,000 BTC ($30 million) worth of sell-side positions from the current price of $10,010 until $10,230.

Should BTC fail to catch a bid during any really in the coming hours, it could be strongly rejected by the sell wall. The wall will act as resistance for the cryptocurrency market as long as it is on the order book.

Bitcoin sell walls
Chart from Nik Yaremchuk

Another trader indicated that on OKEx, there was a similar sell wall of approximately 1,000 BTC until $10,200. This suggests that the abovementioned wall is not a spoof, but rather serious selling pressure from big market players.

This isn’t the only bearish sign.

Per previous reports from NewsBTC, a top analyst noted that on Bitcoin’s two-day chart, the Tom Demark Sequential (TD Sequential) printed a “9.” This was last seen at the peak of the Q1 2020 bull run at $10,500. What followed was a steep decline of over 60% towards $3,700.

“9” TD Sequential candles are often seen at reversal points in markets, as evidenced in the chart below.

Bitcoin TD bearish
Chart from @Moe_Mentum_

Can Bulls Break Through?

Although there is this building sell wall, investors are betting on the chances cryptocurrency will eventually break through.

Citing data from Glassnode, Willy Woo on May 5th noted that the population of large Bitcoin holders (1,000+ coins) has increased strongly since January’s lows. This indicates these users have been in “solid accumulation mode,” which is a “macro bullish” trend:

“Whale population spotted increasing in the wild. They’ve been in solid accumulation mode since January unperturbed by the COVID crash. This is macro bullish,” Woo said in reference to the chart below.

Their optimism is seemingly related to Bitcoin’s ongoing surge in fundamental strength.

Just yesterday, Paul Tudor Jones, a billionaire macro investor, revealed that his fund will be buying Bitcoin.

Jones explained that from how he sees it, the top cryptocurrency in the ongoing macroeconomic backdrop is eerily reminiscent of gold in the 1970s. The investor added that while he subjectively sees Bitcoin as the worst store of value amongst fiat, gold, and financial assets, he sees the cryptocurrency as the “fastest horse in the race.”

Photo by Erwan Hesry on Unsplash
Tweet123Share230ShareSend
Nick Chong
Nick Chong

Nick Chong

I am a writer who has been following Bitcoin for years now. My insights and interviews have been featured in leading publications in the industry such as LongHash and Decrypt. I own a small amount of Bitcoin.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Dogecoin

Dogecoin Bullish Kumo Breakout, But Can DOGE Overcome The $0.23804 Barrier?

Dogecoin flashes a bullish signal after crashing through the Kumo. However, with the $0.23 resistance in the spotlight, the question...

Godspower Owie 3 hours ago
Bitcoin Price Struggles Near $113K

Bitcoin Price Struggles Near $113K – Will Bulls Force a Break?

Bitcoin price is struggling to recover above $112,500. BTC is now consolidating and might decline if there is a move...

Aayush Jindal 4 hours ago
Solana

Solana Power Play: Galaxy, Jump Crypto, Multicoin Behind New $1.6 Billion Treasury Strategy

Solana (SOL) experienced a notable 6% price increase to start the week, following the announcement of a new initiative involving...

Ronaldo Marquez 4 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Crypto

This Week In Crypto: What Investors Need To Know And Why It Matters

Ronaldo Marquez 32 minutes ago

萊特幣挑戰瑞波幣分析 比特幣升級版Bitcoin Hyper獲近1,500萬資金流入

Mark Mak 1 hour ago
injective, Solana, render, Altcoins, POPCAT, Shiba Inu, Worldcoin

Worldcoin Jumps 42% Following Eightco’s Announcement Of First WLD Treasury Strategy

Rubmar Garcia 1 hour ago

Premium Sponsors

Press Releases

  • SNEYD

    SNEYD Mining will be the world’s first choice for...

    12 hours ago
  • Best Bitcoin

    Best Bitcoin Mixer Coinomize.is: Complete Privacy Solution...

    12 hours ago
  • miner

    Institutional capital pours into DOT Miners, pushing XRP...

    13 hours ago
  • 仮想通貨おすすめ:ビットコイン11万7,000ドル予測と3億ドル空売りリスク

    ...

    15 hours ago
  • ドージコイン 今後の課題:0.25ドル突破に苦戦、新しい仮想通貨に資金が流入する9月

    ドージコイン...

    16 hours ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.