Bitcoin rose to $84,600 on Wednesday as stronger-than-expected SpaceX third-quarter results helped support a broader improvement in US equity markets. The cryptocurrency’s advance came alongside gains in technology shares, although analysts said Bitcoin still needed to clear an important level at the daily close before its trading range could shift higher.
SpaceX results boost market sentiment
Bitcoin gained almost 2% after the opening of Wall Street, returning to $84,600 for the first time since October 7, according to market data cited by Cointelegraph. The move followed SpaceX’s third-quarter earnings report, released after the US market closed on Tuesday.
SpaceX reported operating revenue of $14.6 billion for the quarter. That represented a 161% increase from a year earlier and was almost 15% above expectations. The company also reported net income of $4.4 billion.
Chief Financial Officer Bret Johnsen said the company’s launch activity, recurring revenue from Starlink and expansion of its SI infrastructure were contributing to stronger operating leverage. Operating leverage refers to the way revenue growth can improve profitability when fixed costs are spread across a larger business.
The results arrived as investors were again assessing the scale of corporate spending on artificial intelligence infrastructure. Analysts at Truist Securities, in a note quoted by CNBC, said SpaceX’s performance helped ease some concerns about financing for AI cloud providers. Those concerns had contributed to a technology sell-off the previous week, which began in South Korea before spreading across Asian and US markets.
US shares were higher at the start of Wednesday’s session. The technology-heavy Nasdaq Composite was up 0.7% at 26,601 points before giving back part of the gain. Tesla and Meta were scheduled to report results after the close. South Korea’s KOSPI Composite Index ended its session 3.29% higher at 5,735 points.
Bitcoin faces resistance near $83,400 and $84,000
Although Bitcoin moved above several nearby technical levels, analysts continued to identify resistance that could determine whether the rally extends. On four-hour charts, BTC/USD moved above its 200-period simple moving average at $83,878 for the first time since October 14.
The $84,000 area had previously recorded several similar highs between October 11 and October 14. That history made the level a notable resistance zone as Bitcoin attempted to build on its advance.
Crypto trader and analyst Rekt Capital said Bitcoin needed to finish a full trading day above $83,400 to regain the upper part of its local range. In an analysis posted on X, the analyst warned that a rejection from that level could send the price back below $82,500.
The price increase also coincided with a wave of short-position liquidations. CoinGlass data cited in the report showed that crypto short liquidations approached $110 million over a four-hour period. A short liquidation occurs when an exchange closes a trader’s bearish position because the market has moved against it, often adding to upward price momentum.
The technical picture therefore remained conditional rather than conclusive: Bitcoin had crossed above $84,000 during the session, but a sustained daily close above $83,400 was identified as the next confirmation point by Rekt Capital.
Moneyiar market picture
Moneyiar market data recorded Bitcoin at $81,242.03 on October 22, 2026, at 23:18 Tehran time. The cryptocurrency was down 3.60% over 24 hours and 1.04% over seven days, showing that its later market level was below the $84,600 reached in Wednesday’s report.
Other assets in the Moneyiar data showed mixed performance:
- Tagger was priced at $0.0004603143, down 6.68% over 24 hours and 18.22% over seven days.
- Audiera was priced at $0.0966461527, up 28.94% over 24 hours but down 22.33% over seven days. The supplied timestamp for this reading was September 12, 2026, at 03:59 Tehran time.
- Alchemy Pay was priced at $0.0052188173, down 4.94% over 24 hours and 6.39% over seven days, according to Moneyiar data recorded on October 22, 2026, at 23:19 Tehran time.
The market figures above are Moneyiar data at the stated times and represent snapshots that may differ from the intraday prices cited in the original report.
