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: Bitcoin Price Slips Below $108,000: Peter Schiff Anticipates ‘Brutal’ Bear Market, CZ Responds
  • 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: Bitcoin Price Slips Below $108,000: Peter Schiff Anticipates ‘Brutal’ Bear Market, CZ Responds

There’s a Colossal $40M Sell Wall Preventing Bitcoin From Crossing $10,000

Nick Chong
Nick Chong
1 year ago
2 mins read
Bitcoin price featured image

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 bottoming at $8,180 on the day of the block reward halving, the cryptocurrency has shot higher, approaching $9,900 just hours ago.

With the price now consolidating around $9,800, analysts are hopeful that BTC will break past $10,000. Yet market data indicates that there’s a building sell wall at the key psychological and technical level that may halt any rally.

Bitcoin Sell Wall Worth Dozens of Millions Could Halt Rally

According to order book data of Bitfinex’s BTC/USD market shared by a popular crypto trader, there’s a massive block of orders looking to sell Bitcoin around $10,000 that may be hard to break past.

Bitfinex’s order book suggests that from $9,900 to $10,600, there is ~4,200 Bitcoin worth of sell orders, most of which are clustered around $10,000-10,200. That means on one exchange alone, there is over $40 million worth of sell-side pressure if the cryptocurrency attempts to rally past $10,000.

Chart from Majin (@Majinsayan on Twitter), a crypto trading.
Order book (BTC/USD) screenshot from Majin (@Majinsayan on Twitter), a crypto trading.

Similarly, another trader noted two days ago that according to market data, there is 2,461 BTC worth of sell orders at $10,000 on Binance and 500 BTC worth of sell orders at $10,000 on Bitstamp.

It is unclear if the aforementioned sell walls on these other exchanges exist, but it is clear deep pockets are hesitant to let Bitcoin pass $10,000.

Dangerous Precedent

Over $40 million in sell orders may not seem like a lot in a market where dozens of billions of dollars worth of cryptocurrency changes hands each day. But the last time Bitcoin saw a sell wall similar to the current one, it crashed.

As reported by NewsBTC previously, on May 9th the cryptocurrency encountered a massive $30 million sell wall from the price of $10,010 until $10,230.

Bitcoin sell walls
Chart from Nik Yaremchuk, a former analyst at crypto fund Adaptive Capital. It indicates there’s massive selling pressure building above the Bitcoin price.

In the two days after this sell wall was encountered, the cryptocurrency plunged $2,000, crushed as bulls failed to surmount that key level.

Bitcoin Will Eventually Break Past It

Despite these fears of a sell wall halting a Bitcoin rally, analysts remain optimistic, citing the technical outlook.

One prominent trade, for instance, recently shared the chart below. It indicates that despite the correction over the past few days, Bitcoin remains above a key resistance: the downtrend that was formed after BTC topped at $14,000 in 2019. This is a positive time, he suggested when he wrote:

“Zooming out on the three-day chart we can clearly see the downtrend from the 14k high is already broken and we are simply consolidating and retesting here.”

Price chart from @SmartContracter on Twitter, a prominent cryptocurrency trader. The chart depicts Bitcoin breaking past the downtrend that has been in place since the bull market top at $14,000 in 2019.
Price chart from @SmartContracter on Twitter, a prominent cryptocurrency trader. The chart depicts Bitcoin breaking past the downtrend that has been in place since the bull market top at $14,000 in 2019.
Featured Image from Lucas Law on Unsplash
Tweet123Share196ShareSend
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

Bitcoin

Bitcoin Holding Above Gaussian Channel, Bull Market Structure Still Intact

Bitcoin is trading around $107,000 after its recent flash crash, maintaining stability to prevent further decline but is yet to...

Scott Matherson 7 hours ago

Bitcoin Capitulation Intensifies As STHs Lose $750 Million Daily — Time To Buy The Dip?

The price performance of Bitcoin over the past two weeks has been a major source of concern, as the coin’s...

Opeyemi Sule 8 hours ago
Ethereum

Ethereum Kimchi Premium Spikes To New High — Sign Of Impending Sell-Off?

The price of Ethereum appears to be recovering nicely over the weekend after a period of investor uncertainty. The “king...

Opeyemi Sule 12 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

Dogecoin news

Is The Dogecoin Bull Run Over? Analyst Sees Echoes Of 2021

Jake Simmons 55 minutes ago
Bitcoin Price Stabilizes After Drop

Bitcoin Price Stabilizes After Drop — Early Signs Of Recovery Emerge

Aayush Jindal 4 hours ago
deepseek-ai-predicts-xrp-cardano-pepe-year-end-surge-maxi-doge-100x-tw

DeepSeek AI預測XRP、Cardano與Pepe年底暴漲 Maxi Doge引爆市場百倍幣預期

Kelvin Lee 5 hours ago

Premium Sponsors

Press Releases

  • イーサリアム 今後の価格動向:$4,232のレジスタンス再試し後に下落、しかし新興格安仮想通貨が10倍の可能性

    イーサリアム...

    1 day ago
  • ビットコイン 今後の価格見通し:下降トライアングル崩壊後、10万5,000ドルを下回る可能性はあるか?

    ビットコイン...

    1 day ago
  • シバコイン 今後はどうなる?価格予測と3日後に終了する注目プレセール

    シバコイン...

    1 day ago
  • パイネットワーク 価格 予測:1ドル以下で注目される次世代の有望仮想通貨が投資家の注目を集める

    パイネットワーク 価格...

    1 day ago
  • ドージコイン 今後:ナスダック報道後の大規模売却、次の大きな動きの前兆か?

    ドージコイン...

    1 day 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.