Bitcoin climbs toward $87,000 as $85,000 sell wall clears
Bitcoin pushed back toward $87,000 on Friday after sell-side orders around $85,000 were absorbed, with weak US jobs data also in the mix.
Bitcoin traded back near $87,000 on Friday, recovering after sellers cleared out around the $85,000 level, according to on-chain data provider Glassnode. The move leaves the largest cryptocurrency close to its highest level since January.
The advance came alongside a US employment report that fell short of expectations, a combination that traders have often read as supportive for risk assets.
Sell-side pressure eases
Glassnode's data pointed to $85,000 as an area where sell orders had clustered. With that supply absorbed, price was able to move higher, though the source did not specify the volume of coins involved in the clearance.
Bitcoin remains well below its record high, and attention continues to centre on macroeconomic data as a driver of short-term direction.