Bitcoin Surges 1.5% to $84,700 Amid Geopolitical Tensions and Policy Shifts
2min read Bitcoin is currently trading around $84,700 after hitting an intraday high of $85,400, just shy of a critical resistance at $86,100. This surge comes amidst a series of macro and policy developments that are driving capital into Bitcoin.
China’s recent tariff hike has significantly impacted global markets. In response to U.S. tariffs, China raised duties on $50 billion worth of U.S. goods from 84% to 125%, with threats to expand coverage to another $144 billion. This escalation sent equities sliding, but Bitcoin surged, hitting $85,000 as investors sought a safe haven amidst 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 indicates that BTC is still in the “HODL” to “Still Cheap” zone, reinforcing analyst predictions of a climb toward $91,500 as demand rises. 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 Mike Carey and supported across party lines—marks the first crypto-specific law ever repealed via Congressional Review.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.
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.
Ask Aime: What will be the impact on the stock market of Bitcoin's recent surge amid macro and policy developments?
Technically, 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 levels are at $82,900 and $80,700, with resistance levels at $86,100, followed by $88,600 and $90,900. The 50 EMA is acting as dynamic support around $81,970, and the RSI is at 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.
