Bitcoin briefly surged toward nearly $85,000 late Wednesday before giving up the gains, trading just below $82,800 as of Thursday Asian morning hours. The move came as results from Tesla and Meta weighed on tech futures and stirred fresh doubts about the pace of artificial-intelligence spending.
A fast reversal
Bitcoin touched a high of $84,800 late Wednesday, clearing the $84,000 level that had acted as a ceiling on October 13 and 14. It then dropped more than $2,000 within about six hours, slipping to $82,600. Analysts are watching support near $82,500; some say a break below that level could open the way toward $70,000.
By our own measurement, bitcoin stood at $81,766 as of 23 October 2026, 06:17 GMT, down 1.17 percent from the previous close and near its 31-day low. Elsewhere in crypto, moves were mixed. Zcash rose nearly 3 percent to $1,290, while HYPE fell 3 percent to $79. Dogecoin lost about 2 percent and Solana slipped roughly 1 percent, while XRP edged higher.
Tech earnings rattle futures
In a filing with the Securities and Exchange Commission, Tesla disclosed a cut to its capital-spending forecast, and its shares fell 3 percent after hours. Meta moved in the opposite direction after raising its AI spending plans, rising 2 percent after hours. Lam Research dropped 7 percent on a weak outlook.
Nasdaq 100 futures fell 1.1 percent and S&P 500 futures slipped 0.5 percent. The Nasdaq Composite itself closed at 26,002.08 points on 22 October 2026, down 2.62 percent from the previous close and at its lowest level in 31 days. In Asia, South Korea’s Kospi declined 2.2 percent and China’s CSI 300 fell 1.7 percent, putting the CSI 300 on course for a bear market. Alibaba fell after the government called for tighter quality control, and crude oil climbed as Middle East tensions flared again.
Related: Bitcoin slips below $82,000 as Iran tensions weigh on stocks · Bitcoin slips below $82,000 as Tesla and Meta earnings revive AI doubts
