Bitcoin Pushes Toward $85K as Equities Rally on SpaceX Earnings
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Bitcoin extended its advance to touch $84,600, riding a broader wave of risk appetite after SpaceX posted stronger-than-expected Q3 earnings that lifted US equity indices. The move underscores how closely BTC price action is now tracking traditional risk-on sentiment rather than trading as an isolated hedge.
With price action hovering just below the psychological $85,000 mark, traders are watching whether bulls can convert this momentum into a clean breakout or whether profit-taking emerges near the round-number resistance.
A sustained equity rally could continue to provide tailwinds for BTC/USD, but any reversal in stock sentiment would likely drag crypto lower given the tightening correlation seen this week.