Bitcoin rises to $83,300 as US stocks climb on strong Q3 earnings

Bitcoin reaches $83,300 on earnings‑driven market rally

On Tuesday morning, Bitcoin rose to about $83,300, its highest level since mid‑October, as US stock markets gained after strong third‑quarter earnings reports. The price later slipped back toward $82,000.

Key market moves

• Bitcoin gained roughly 1.5% while US equities rose on better‑than‑expected earnings from companies such as General Motors and 3M.


• The Dow Jones Industrial Average climbed 1.2%, the S&P 500 rose 0.6%, and the Nasdaq added 0.5%.


• Crude oil briefly topped $101 per barrel before falling nearly 5% as equities strengthened.

Technical resistance at the 21‑day moving average

Traders noted that Bitcoin’s price tried to break the 21‑day simple moving average (SMA) around $83,230. The SMA is a line that shows the average price over the past 21 days and is often used as short‑term support or resistance.

Liquidity and open interest details

Data from CoinGlass showed $125 million of short positions were liquidated between 10 a.m. and 11 a.m. ET. Open interest on Bitcoin futures reached $53.86 billion, the highest since Oct. 8.

Analyst comments

Keith Alan, co‑founder of Material Indicators, said that defending the 50‑day SMA near $81,570 would signal strong demand. He added that the 21‑day SMA now acts as a short‑term resistance level.

Why the move matters

The price rise shows how Bitcoin can react to broader market sentiment, especially when equity gains reduce risk‑off pressure on the crypto asset.

Sources

• Cointelegraph

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