JUST IN: $84,003 Bitcoin
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— Bitcoin Journal (@BitcoinMagazine) October 21, 2026
Bitcoin’s rise comes as SpaceX reported surging income progress in its third quarter, and its proprietor, Elon Musk, talked of a possible SpaceX-Tesla merger.
SpaceX — which debuted in June on the Nasdaq within the greatest preliminary public providing ever — reported third-quarter income on Tuesday of $14.6 billion, up 161% from the earlier yr and smashing estimates.
Know-how shares rallied on the information. Bitcoin has up to now risen with threat belongings and been correlated with the Nasdaq.
However this yr, the OG cryptocurrency has moved with gold because the so-called debasement commerce turns into scorching once more. The commerce is when traders purchase sure belongings to hedge towards forex being devalued.
The greenback slid in worth in August after the U.S. Treasury Division mentioned it could greater than double the scale of its authorities debt repurchases. Bitcoin had its finest quarterly run in three years and third finest August ever.
U.S. traders this week have piled again into spot bitcoin exchange-traded funds, too. On Monday and Tuesday, the funds managed by BlackRock, Constancy, Grayscale, and others obtained new funding of over $549 million, in keeping with Coinglass knowledge.
Bitcoin’s value continues to be over 30% under its all-time excessive of $126,080 — reached in October 2025 — however analysts are saying the cryptocurrency is now again in a bull market after spending most of this yr in a bear.
This publish Bitcoin Nears $85,000 as SpaceX Earnings Reignite Threat Urge for food first appeared on Bitcoin Journal and is written by Mathew Di Salvo.
