Bitcoin rose as much as 1.5 percent to about $83,000 on Tuesday after the Wall Street open, reaching its highest level since Oct. 14 before slipping back toward $82,000. The move came as US stocks rallied on third-quarter earnings that beat expectations, with General Motors and 3M both ahead of estimates.
By our market data, bitcoin stood at $82,340 as of 16:40 GMT on 20 October 2026, up 0.48 percent from the previous close.
Stocks and oil move together
The Dow Jones Industrial Average gained 1.2 percent, reaching levels last seen on Sept. 14, while the S&P 500 rose 0.6 percent and the Nasdaq Composite 0.5 percent at the time of writing. 3M also raised its profit forecast.
Oil moved sharply in the opposite direction. WTI crude passed $100 a barrel for the first time since Sept. 17 and briefly hit $101 early in the day, then fell below $96 around the start of the US session, a drop of roughly 5 percent within hours.
Traders weigh the technical picture
Jose Torres, senior economist at Interactive Brokers, said improving views of modern technology had Wall Street breathing a sigh of relief as participants dropped hedges. Volatility protection had soared intraday on Friday, ahead of a sharp selloff.
Keith Alan, cofounder of Material Indicators, said repeated defenses of the 50-day moving average showed buyers were still protecting that range. Bitcoin’s 21-day simple moving average, at $83,230, was acting as short-term resistance, while the 50-day stood at $81,570.
Leverage builds in crypto derivatives
Short liquidations totalled $125 million between 10 a.m. and 11 a.m. ET, according to CoinGlass. Total open interest on exchanges rose 2.1 percent over 24 hours to $53.86 billion, the highest since Oct. 8.
SpaceX was due to report third-quarter figures after the close on Tuesday, with Tesla and Meta scheduled for Wednesday.
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Data: CoinGecko
