Bitcoin hits $83.3K on strong US earnings, then pulls back
Bitcoin briefly rose to $83,300 as strong third-quarter earnings from US companies lifted stock markets, while oil prices fell. The price then reversed at a 21-day trend line. This may matter for traders because crypto moved with the stock rally, but the gain did not hold.
Why it matters
- Strong US corporate earnings reports helped lift stock markets during this move.
- Bitcoin reached $83,300 before reversing at a 21-day trend line.
- Oil prices fell at the same time the US stock market rose.
What to watch next
Watch whether bitcoin can hold above the 21-day trend line or falls back as the earnings-driven stock rally fades.
