Bitcoin surpassed the $84,000 threshold following the opening of Wall Street on Wednesday. The cryptocurrency recorded a daily gain of nearly 2%, reaching levels near $85,000 as market sentiment improved following positive corporate earnings reports.
SpaceX reported Q3 revenue of $14.6 billion, marking a 161% year-over-year increase and exceeding expectations by nearly 15%. The company achieved a net income of $4.4 billion for the quarter, which analysts at Truist Securities cited as a stabilizing factor for market concerns regarding AI infrastructure spending.
The Nasdaq Composite Index rose 0.7% to 26,601 points at the start of the session. Meanwhile, crypto short liquidations reached approximately $110 million over a four-hour period as Bitcoin cleared liquidity around the $84,000 level.
Technical indicators show Bitcoin breaking above its 200-period simple moving average of $83,878 for the first time since October 14. Analysts note that maintaining a daily close above $83,400 is critical to avoid a potential decline below the $82,500 mark.
