Bitcoin Price to $85,000: Can Bulls Break the Resistance Amid Renewed Optimism?
Bitcoin is charging ahead, currently trading around $84,700 after hitting an intraday high of $85,400, just shy of a critical resistance at $86,100. This breakout attempt comes amid a whirlwind of macro and policy developments pushing capital into BTC.
China’s Tariff Hike Pushes BTC to $85K
Markets were rattled this week after China retaliated against U.S. tariffs, raising duties on $50 billion worth of U.S. goods from 84% to 125%, with threats to expand coverage to another $144 billion. The escalation sent equities sliding—but Bitcoin surged, hitting $85,000 as investors looked for a safe haven amid growing geopolitical tensions.
Meanwhile, the U.S. dollar showed weakness, and crypto-friendly sentiment continued to build domestically. Florida is proposing a bill to allow public funds to invest in Bitcoin, and North Carolina is working to recognize it as legal tender. These moves come as Bitcoin’s hashrate surged past 120 TH/s, reflecting rising institutional mining interest. The Bitcoin Rainbow Chart shows BTC is still in the “HODL” to “Still Cheap” zone, reinforcing analyst predictions of a climb toward $91,500 as demand rises.
Trump Repeals IRS DeFi Rule, Boosting Crypto Sentiment
In a major win for the crypto industry, President Trump signed off on the repeal of the IRS DeFi Broker Rule—a regulation that would’ve required decentralized platforms to report user transactions to the IRS. Initially set for 2027, the rule faced backlash for its privacy risks and technical impracticality.
The repeal—led by Rep. Mike Carey and supported across party lines—marks the first crypto-specific law ever repealed via Congressional Review. Trump’s pro-crypto stance continues to inject confidence into the market, especially for DeFi and institutional players.
Bitcoin Gets an Education Boost in the UK
Adding to the bullish sentiment, Lomond School in Scotland has become the first UK school to accept Bitcoin for tuition payments, starting Fall 2025. The initiative is part of a broader plan to educate students about “sound money” principles rooted in Austrian economics.
While Bitcoin payments will be converted to fiat immediately, the school is open to starting a Bitcoin treasury in the future. The move mirrors efforts in the U.S., where universities like Wyoming and Austin are building BTC-focused academic programs and treasuries. This expansion into education strengthens Bitcoin’s long-term adoption story, especially among Gen Z.
Bitcoin Technical Analysis – April 13, 2025
BTC/USD is holding strong at $84,700, just below resistance at $86,100—a level that marks the upper trendline of a long-term descending channel and a prior supply zone.
Support: $82,900 and $80,700
Resistance: $86,100, followed by $88,600 and $90,900
50 EMA: Acting as dynamic support around $81,970
RSI: 61 — signaling strong momentum but nearing overbought levels
If bulls can secure a daily close above $86,100 with convincing volume, Bitcoin could quickly target $92,800. On the flip side, a rejection may lead to a brief pullback, but the broader structure remains bullish.
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