Bitcoin price spikes to $83.3K as US stocks rise on Q3 earnings, oil falls
BTC when published $82,514Now $80,599 ▼ −2.32% since it was published
High US corporate earnings reports boosted stock markets and saw BTC price hit $83,300 before reversing at a 21-day trend line. Bitcoin (BTC) returned to $83,000 after Tuesday’s Wall Street open as US stocks gained on strong earnings reports. Data from TradingView showed BTC/USD gaining 1.5% to reach its highest levels since Oct. 14 before dropping back toward $82,000. Crypto joined US stock markets in rallying as Q3 earnings reports beat expectations. Both General Motors and industrial conglomerate 3M beat earnings expectations, while the latter also increased its profit forecast. The Dow Jones Industrial Average gained 1.2% on the back of the results to hit levels last seen on Sept. 14. Meanwhile, the S&P 500 and tech-heavy Nasdaq Composite Index traded up 0.6% and 0.5% at the time of writing.
First reported by Cointelegraph. This page is a short excerpt; the full text is theirs.
