Bitcoin Price Eyes $100,000 Breakout as On-Chain Accumulation Builds

Highlights:

• Bitcoin could make another run toward $100,000 if buyers defend support and break above $86,700.
• Large holders have added more than 14,335 BTC since October 1, strengthening Bitcoin’s current market setup.
• Binance saw heavy Bitcoin outflows as nearly 40,000 BTC left the exchange within about fifteen days.

Bitcoin could make another run toward $100,000 if buyers defend support and push the price above $86,700. The setup comes as large holders add BTC and Binance records heavy Bitcoin outflows. Crypto analyst Ali Martinez shared the outlook on October 6. He said Bitcoin has spent the past two weeks trading between $83,000 and $86,700. The range remains intact, but on-chain data now shows several areas that could shape the next move.

At the time of writing, Bitcoin trades near $85,983, up 0.03% over the past 24 hours. The price remains below the $86,700 breakout level Martinez highlighted.

Bitcoin Price Finds Strong Support Between $83,300 and $84,600

Martinez pointed to a major Bitcoin support zone between $83,300 and $84,600. According to URPD data, about 1.59 million BTC changed hands within this range. URPD shows the prices where the existing Bitcoin supply last moved. Traders often use the data to find zones where many holders may defend their positions.

3/5 Bitcoin has built a major support zone between $83,300 and $84,600. URPD data shows 1.59 million BTC were traded in this range, giving buyers a level to defend.

If support holds and Bitcoin breaks above $86,700, the same data shows no comparable supply concentration until… pic.twitter.com/7ESzt92kg6

— Ali Charts (@alicharts) October 6, 2026

For now, the $83,300 to $84,600 area is the key support range. Meanwhile, $86,700 remains the main resistance level. Martinez said the same on-chain data shows no similar supply concentration between $86,700 and roughly $105,000. Therefore, a clean break above the current range could give Bitcoin more room to move higher.

That setup could bring $100,000 back into focus. However, Bitcoin price first needs to hold support and clear $86,700. A move below the support zone would weaken the bullish setup. Whale buying has also increased. Martinez said large Bitcoin holders added more than 14,335 BTC since October 1. At the prices used in his analysis, the accumulation was worth about $1.22 billion.

The purchases add another layer to the current market setup. Large holders can influence available supply, especially when they buy while Bitcoin remains in a tight range.

Binance Bitcoin Outflows Add to the Accumulation Picture

Separate data from CryptoQuant contributor Darkfost also points to stronger accumulation. In an October 6 post, Darkfost said nearly 14,300 BTC had left Binance during the latest session. The previous week also recorded about 23,100 BTC in net outflows, the highest weekly total since June 2023, according to his analysis.

Binance reserves have also fallen sharply. Darkfost said the exchange held around 704,800 BTC on September 20. By early October, reserves had dropped to about 663,100 BTC. That decline equals nearly 40,000 BTC, worth around $3.3 billion, leaving Binance with roughly 15 days.

🗞️ $3.3B Left Binance in 2 weeks as Outflows hit a 3-Year High

On-chain exchange flows show that accumulation has been largely dominant in recent weeks.

By analyzing netflow on an exchange like Binance, which holds the largest BTC reserves, we can gauge the mood of market… pic.twitter.com/8iGpQuXpvQ

— Darkfost (@Darkfost_Coc) October 6, 2026

Large exchange withdrawals can reduce the amount of Bitcoin readily available for trading. They are also often linked with investors moving coins into private wallets for longer-term holding. Still, exchange outflows do not prove that every withdrawn coin will remain off the market.

The broader outlook also remains supportive. Citi recently raised its 12-month Bitcoin price target to $113,000 from $82,000. The bank pointed to stronger crypto activity, renewed ETF demand, and improving market conditions. Citi also expects around $5 billion in additional crypto inflows over the next 12 months. However, the forecast remains a projection and will depend on market demand, regulation, and wider economic conditions.

Citi Raises 12-Month Bitcoin Target to $113K, Ether to $3,028

Citigroup raised its 12-month price targets for Bitcoin and Ether, lifting Bitcoin to $113,000 from $82,000 and Ether to $3,028 from $2,240, according to Reuters. Citi cited accelerating crypto market activity, a… pic.twitter.com/fIOr1zYDJA

— Wu Blockchain (@WuBlockchain) October 1, 2026