The Bitcoin price has jumped 8% in the last 24 hours to trade at $86,136

The Bitcoin price has jumped 8% in the last 24 hours to trade at $86136 as of 11 p.m. EST on a 3.5% pump in trading volume to $68 billion.

The Bitcoin price has shot up by 8% in the last 24 hours to trade at $86,136 by 11 p.m. EST on a 3.5% pump in trading volume to $68 billion.

Senator Cynthia Lummis reaffirms her belief that Bitcoin is digital gold.

Lummis also said that Bitcoin is a strategic asset and a store of wealth.

According to her, while the U.S. federal government is slow in adopting Bitcoin, individual states and foreign nations, such as the UAE, are setting up strategic Bitcoin reserves.

Senator Cynthia Lummis said that Bitcoin "is digital gold. But it's much easier to use than gold."

Senator Lummis said that Bitcoin is a strategic asset and a store of wealth.

According to her, while the U.S. federal government is slow in adopting Bitcoin, individual states and foreign nations, such as the UAE, are setting up strategic Bitcoin reserves.

"We're going to see more and more nations adopt it."

Senator Lummis said that we"need to get to a point where we can'no longer say 'I told you so'" regarding Bitcoin.

Her comments come as the Bitcoin price hovers around $86,000 as it trades in a tight range amid low volatility.

The BTC/USDT 1-hour chart shows a market structure transitioning from a Bearish Trend to a potential Uptrend.

Previously, Bitcoin traded within a Bearish Channel, declining from around $98,000 to a local low of approximately $78,774. However, the price has now formed a Rounded Bottom pattern, indicating a possible reversal.

Currently, BTC is trading at $86,136, attempting to break out of the previous downtrend. Key support and resistance levels are crucial in determining Bitcoin’s next move.

The major support zone lies between $78,774 and $80,000, where the price found a strong base. The immediate resistance level is at $86,136, which BTC is currently testing.

If BTC breaks above this level, it could move towards $88,000, $92,000, and $96,000, with the $100,000 level acting as a major psychological barrier.

BTCUSDT Analysis Source: Tradingview

Technical indicators:

The RSI (Relative Strength Index) is at 67.83, close to the overbought zone (70), indicating that a slight pullback could occur while the trend is bullish.

The LuxAlgo Trendlines with Breaks highlight key moving average levels, with support at $78,774 and resistance at $84,886. Traders should monitor how BTC interacts with these levels before confirming further movement.

Trade signals:

If BTC successfully breaks and holds above $86,136, it could trigger a bullish continuation towards $92,000 and beyond.

However, if BTC gets rejected at this level, a retracement towards $84,000 or even $80,000 could occur before another breakout attempt.

For traders, a long position could be considered if BTC closes above $86,500 with strong volume, targeting $88,000 – $92,000.

Conversely, a short position may be viable if BTC fails to break $86,136, with downside targets around $84,000 – $80,000.

Bitcoin is at a critical juncture where a confirmed breakout above $86,136 could lead to significant upside potential.

BTC Bull Token (BTCBULL) Presale Surges Past $3 Million – Best Crypto To Buy Now?As the Bitcoin price continues its bullish momentum, investors are flocking to a new meme coin which has just surged past $3 million in presale.

BTC Bull Token (BTCBULL) is a Bitcoin-themed meme coin designed to support the top cryptocurrency on its journey to $1 million per coin and beyond.

Investors holding BTCBULL tokens in Best Wallet will benefit from free Bitcoin airdrops triggered when BTC reaches key price milestones. The first airdrop occurs when Bitcoin hits $150K, and for every $50k increase after that.

BTCBULL will also undergo token burns, starting at $125K and then for every additional $50k increase. That will put upward pressure on the meme coin’s price.

Adding to the excitement, investors can also earn a 146% annual return when they stake their BTCBULL tokens.

Alessandro De Crypto, a crypto analyst and YouTuber with over 14.4K subscribers, says he’s buying the token and that it could print massive gains. BTC Bull