Bitcoin Breaks $85,000 as Rally Gains Momentum

Bitcoin climbed past the $85,000 threshold, reaching a peak of $85,229, its highest level since late January. At approximately 06:35 a.m. ET, the cryptocurrency was trading at $84,256, up about 3.8% according to data from CoinMetrics. The move follows a sharp rally over the past several days, with the digital asset gaining more than 7% in the last five days and nearly 35% over the previous three months.

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The recent price action occurs after a prolonged “crypto winter” that began when Bitcoin fell from its all-time high of over $126,000 in October 2025. Investors have been watching the market for signs that the downturn is ending, and the current surge has reignited speculation that the bearish phase may be concluding.

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• Highest price since late January: $85,229

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• Current price (06:35 a.m. ET): $84,256, +3.8% intraday

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• 5-day gain: >7%

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• 3-month gain: ~35%

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• Record high (Oct 2025): >$126,000

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Matt Hougan, chief investment officer at Bitwise, said he believes the “crypto winter” is over and described the market’s renewal as a “crypto spring” with “crocuses blooming.” He added that this rally could become the strongest and longest-running bull market in the history of the cryptocurrency sector.

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• “I do think it's over, it's crypto spring, the crocuses are blooming,” — Matt Hougan, CIO at Bitwise

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