Bitcoin Approaches $86,000 – Can the Bull Break Through?

The cryptocurrency market is heating up again as Bitcoin trades around $84,700 after reaching a daily high of $85,400 – just a little shy of the important resistance level at $86,100. The optimistic sentiment is spreading thanks to geopolitical fluctuations and positive legal changes, creating strong momentum for the influx of money into BTC in an effort to break through this resistance zone. The boost from US-China trade tensions: Bitcoin surges to $85K This week, China has officially raised taxes on $50 billion worth of imports from the U.S., with rates increasing from 84% to 125%, and even threatened to expand the tax package up to $144 billion. This development has caused global stock markets to shake significantly, while Bitcoin has become a "safe haven," surpassing the $85,000 mark. The legal policy in the US supports the market. In the US, many states are taking positive steps with Bitcoin: Florida proposed allowing public funds to invest in Bitcoin. North Carolina wants to legalize BTC as a mainstream asset. The hashrate of Bitcoin has surpassed 120 TH/s for the first time, indicating strong participation from professional coin mining organizations. At the same time, the Bitcoin Rainbow Chart – a tool for tracking long-term valuations – shows that BTC is currently still in the "HODL" to "Still Cheap" zone, further reinforcing the belief in a strong price surge that could take BTC up to $91,500. Market sentiment improves after Trump repeals IRS DeFi regulations President Trump has just revoked a controversial IRS regulation – requiring DeFi platforms to report user transactions. This move has been hailed by the crypto community as a major victory for privacy and financial freedom. At the same time, the Trump administration is also implementing an educational program on "sound money" based on Austrian economics, in which Bitcoin is seen as an ideal illustrative medium. Schools can accept donations in BTC, automatically converting them to cash, or even build their own Bitcoin treasury. Technical analysis of Bitcoin on 13/04/2025 Current price: $84,700Near resistance: $86,100 (long-term downtrend channel top and old supply zone)Next resistance: $88,600 and $90,900Support: $82,900 and $80,70050-day EMA: $81,970 (acting as dynamic support)RSI: 61 (strong upward momentum, approaching overbought zone)

If BTC closes above $86,100 with high trading volume, the market could definitely witness a strong breakout to $92,800. Conversely, if it is rejected at this resistance zone, a slight correction may occur – however, the long-term trend remains clearly bullish. Conclusion With the resonance from global instability, institutional capital, optimistic technical signals, and legal support from governments, Bitcoin is on the verge of a great opportunity to break the $86,100 threshold and enter a new price zone. The market is holding its breath waiting for a real breakout – will the bulls emerge victorious?