Bitcoin (BTC) staged a powerful rebound and briefly touched the key psychological level of $83,300, driven by a dual macroeconomic boost from broadly better-than-expected US corporate earnings and falling international oil prices.
Although the overall risk appetite improved as equity markets strengthened, Bitcoin encountered short-term technical resistance after its surge, giving back some gains and entering a phase of high-level consolidation.
As of 8:09 AM on the 21st, BTC was trading at 110.44 million Korean won on the South Korean digital asset exchange Upbit, up a modest 0.22% from the price at 9:00 AM the previous trading day.
Meanwhile, on the global platform Binance, BTC showed stronger momentum, rising 1.22% to $82,957.
Major altcoins followed the upward trend, with Ethereum (ETH) climbing 1.93% to $2,450.34 and Ripple (XRP) gaining 2.46% to $1.34.
Data compiled by Woofun AI showed that liquidation activity was intense over the past 24 hours, with CoinGlass statistics indicating approximately $79.25 million (about 105.1 billion Korean won) worth of BTC positions were forcibly closed, of which short positions accounted for 61.3%.
Across the entire digital asset market, total liquidations reached $316.37 million (about 442.9 billion Korean won), reflecting the immense pressure faced by highly leveraged bulls during price volatility.
The core driver behind this BTC price rebound came from the strong performance of US stocks, particularly the better-than-expected earnings releases from traditional industry players and AI giants.
After the New York stock market opened, BTC's maximum gain reached 1.5%, hitting its highest level since the 14th.
General Motors (GM.US) and 3M (MMM.US) both reported better-than-expected results, with 3M (MMM.US) also raising its full-year profit forecast, pushing the Dow Jones Industrial Average up 1.2% intraday to its highest level since September 14.
In after-hours trading, AI-related companies further boosted tech stock sentiment.
SpaceX (SPCX.US) reported third-quarter net profit of $4.4 billion, far exceeding market expectations of $188 million, with revenue growing 161% year-over-year, and its stock rose more than 5% in after-hours trading.
Supermicro Computer (SMCI.US) also delivered impressive results, helping to strengthen the AI infrastructure sector.
Driven by this, Nasdaq 100 index futures rose 1%, and S&P 500 index futures gained 0.5%.
Previously, high valuations and massive capital expenditures by AI companies had weighed on tech stocks, but as actual profitability was validated, investor focus has shifted toward companies' growth potential and competitiveness.
Improvements in the macroeconomic liquidity environment also provided strong support for BTC.
Angelo Kourkafas of Edward Jones noted that there are currently no signs of AI demand slowing, and the market is shifting from simply chasing AI concepts to valuing corporate financing capacity and core competitiveness.
Meanwhile, West Texas Intermediate (WTI) crude oil prices briefly broke above $101 per barrel intraday before falling back to around $98.15, easing inflation concerns.
The US 10-year Treasury yield dropped 3.7 basis points to 5.10%, creating a favorable environment for risk assets.
However, geopolitical uncertainty persists. Although negotiations between the US and Iran continue, claims of an imminent agreement have been denied by relevant parties, and potential risks in the Middle East still warrant caution.
From a technical perspective, whether BTC can break through key resistance levels will be crucial in determining its subsequent trajectory.
Keith Allen, co-founder of digital asset trading platform MaterialIndicators, identified the simple moving average at $83,230 as a short-term resistance level, which BTC briefly broke above but failed to hold.
He views the 50-day moving average at $81,570 as an important support level and emphasized that if this support holds multiple times, it would indicate buyers are actively defending.
The Fear and Greed Index published by Alternative recorded 55 points (greed) on the day, down from 59 points the previous day.
The index ranges from 0 to 100, with lower values indicating greater selling pressure and higher values indicating stronger buying interest. The current reading shows market sentiment remains optimistic but has cooled slightly.
Recent hot topics include: the Drift hacker who stole $285 million moving another $32 million in Ethereum; Blockchain.com launching BTC and ETH options trading; Fidelity spending to purchase 136,000 BTC; 500 BTC active for the first time in 10 years being transferred to Coinbase (COIN.US), worth $41.33 million; Anthropic posting a net loss of $80.7 billion in the first half; Elon Musk stating that SpaceX (SPCX.US) and Tesla (TSLA.US) have begun merger discussions; the US Commodity Futures Trading Commission beginning to regulate AI agents; the NAVER and Dunamu merger case receiving focused review from the Fair Trade Commission; JPMorgan (JPM.US) projecting BTC could achieve a 10-year return of 10%; Tom Lee suggesting that reduced AI investment could benefit digital assets; large investors buying 89,000 BTC near the $80,000 level; Pomo co-founder Park Se-yong proposing a vision for all-asset trading; Access Protocol expanding its business through agents and NFT markets; and KIP head Lee Yun-ho emphasizing preparations ahead of STO market opening and sharing RWA experience.
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