Bitcoin Surges Past $86,000 to Hit Eight-Month High: Legislative Setbacks Act as Catalysts as Capital Flows Back from A…

Technically, $90,000 will be the key level to test the market's underlying strength.

Written by: Yilong Bao, Wall Street Insights

Bitcoin rose above $85,000, hitting an eight-month high. Despite setbacks in U.S. crypto regulatory legislation, digital assets have not remained under pressure; instead, they quickly reclaimed lost ground. Bitwise Chief Investment Officer Hougan declared that the "crypto winter" has ended and the market has entered "crypto spring."

Hougan explicitly stated that the "crypto winter," which had lasted nearly a year, has come to an end, and he anticipates this could become the strongest and longest bull market in cryptocurrency history.

In the past five days, Bitcoin has gained more than 7% cumulatively, with gains nearing 35% over the past three months. Technically, BTIG analysts believe that as long as the support level around $75,000 holds, bulls can push further toward the $90,000 region.

This rebound occurred against the backdrop of the Digital Market Clarity Act failing a procedural vote in the Senate, breaking the simplistic logic that "legislative failure equals negative sentiment." The market has begun reassessing the real impact of regulatory uncertainty.