{"id":242207,"date":"2026-10-21T15:46:14","date_gmt":"2026-10-21T15:46:14","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=242207"},"modified":"2026-10-21T15:46:14","modified_gmt":"2026-10-21T15:46:14","slug":"bitcoin-nears-85000-as-spacex-earnings-reignite-risk-appetite","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=242207","title":{"rendered":"Bitcoin Nears $85,000 as SpaceX Earnings Reignite Risk Appetite"},"content":{"rendered":"

Bitcoin Magazine<\/a><\/p>\n

Bitcoin Nears $85,000 as SpaceX Earnings Reignite Risk Appetite<\/a><\/p>\n

<\/div>\n

Bitcoin\u2019s price<\/a> rose above $84,500 on Wednesday as investors flooded back into risk-on assets \u2014 particularly tech-related stocks.\u00a0<\/p>\n

The leading cryptocurrency was recently priced at $84,461 after rising nearly as high as $84,588 earlier on Wednesday morning in New York.\u00a0<\/p>\n

Over a 24-hour period, the coin is up 2%. Zooming out over a seven-day timeframe and it is up 3%.\u00a0<\/p>\n

\n

JUST IN: $84,003 Bitcoin pic.twitter.com\/ht1VmQnDQ5<\/a><\/p>\n

\u2014 Bitcoin Magazine (@BitcoinMagazine) October 21, 2026<\/a>\n<\/p><\/div>\n

Bitcoin\u2019s rise comes as SpaceX reported<\/a> surging revenue growth in its third quarter, and its owner, Elon Musk, talked of a potential SpaceX-Tesla merger.<\/p>\n

SpaceX \u2014 which debuted in June on the Nasdaq in the biggest initial public offering ever \u2014 reported third-quarter revenue on Tuesday of $14.6 billion, up 161% from the previous year and smashing estimates.\u00a0<\/p>\n

Technology stocks rallied on the news. Bitcoin has in the past risen with risk assets and been correlated with the Nasdaq.\u00a0<\/p>\n

But this year, the OG cryptocurrency has moved with gold as the so-called debasement trade<\/a> becomes hot again. The trade is when investors buy certain assets to hedge against currency being devalued.\u00a0<\/p>\n

The dollar slid in value in August after the U.S. Treasury Department said<\/a> it would more than double the size of its government debt repurchases. Bitcoin had its best quarterly run in three years and third best August ever.\u00a0\u00a0\u00a0<\/p>\n

U.S. investors this week have piled back into spot bitcoin exchange-traded funds, too. On Monday and Tuesday, the funds managed by BlackRock, Fidelity, Grayscale, and others received new investment of over $549 million, according to Coinglass data.\u00a0<\/p>\n

Bitcoin\u2019s price is still over 30% below its all-time high of $126,080 \u2014 reached in October 2025 \u2014 but analysts are saying the cryptocurrency is now back in a bull market after spending most of this year in a bear.\u00a0<\/p>\n

This post Bitcoin Nears $85,000 as SpaceX Earnings Reignite Risk Appetite<\/a> first appeared on Bitcoin Magazine<\/a> and is written by Mathew Di Salvo<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin Magazine Bitcoin Nears $85,000 as SpaceX Earnings Reignite Risk Appetite Bitcoin\u2019s price rose above $84,500 on Wednesday as investors flooded back into risk-on assets \u2014 particularly tech-related stocks.\u00a0 The leading cryptocurrency was recently priced at $84,461 after rising nearly as high as $84,588 earlier on Wednesday morning in New York.\u00a0 Over a 24-hour period, […]<\/p>\n","protected":false},"author":0,"featured_media":242208,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-242207","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/242207"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=242207"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/242207\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/242208"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=242207"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=242207"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=242207"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}