Bitcoin reached a price point exceeding $84,500 on Wednesday, marking a 2% increase over the previous 24 hours. The cryptocurrency has seen a 3% growth over the past seven days, although it remains more than 30% below its all-time high of $126,080 recorded in October 2025.
The market movement follows strong financial results from SpaceX, which reported third-quarter revenue of $14.6 billion, representing a 161% increase compared to the previous year. SpaceX, which debuted on the Nasdaq in June, also saw its owner Elon Musk discuss a potential merger with Tesla.
Investor interest in risk-on assets has intensified, with spot bitcoin exchange-traded funds managed by firms such as BlackRock, Fidelity, and Grayscale attracting over $549 million in new investments between Monday and Tuesday. Analysts suggest the asset has entered a bull market phase.
