Bitcoin briefly surged to nearly $85,000 late Wednesday, clearing its $84,000 ceiling, but reversed and traded just below $82,800 in Thursday's Asian morning, near the $82,500 support that some analysts warn could lead to a slide toward $70,000. Most major cryptocurrencies declined, with HYPE down 3% and Dogecoin down 2%, while Zcash gained nearly 3%. Disappointing corporate outlooks and doubts about AI spending weighed on U.S. stock futures and Asian markets: Tesla fell 3% after hours after cutting its capital-spending forecast, Lam Research dropped 7%, Nasdaq 100 futures lost 1.1%, and South Korea's Kospi fell 2.2%.
Summary written by Upside AI from the original article. Read the source for full details.
Read the original on CoinDesk ↗
Keywords
bitcoincryptoAI investmentTesla
Open a keyword to see other news on the same topic.
Related tickers and likely impact
BTC/USDT
▼ Likely negativeBitcoin
Relevance: medium
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Layer 1 |
| Market cap | $1.6T |
| Close on 10/21/2026 | 84,093.42 |
| Change that session | +1.28% |
ETH/USDT
▼ Likely negativeEthereum
Relevance: low
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Layer 1 |
| Market cap | $294.2B |
| Close on 10/21/2026 | 2,473.76 |
| Change that session | +1.00% |
META
• NeutralMeta Platforms
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Communication Services |
| Industry | Interactive Media & Services |
| Market cap | $1.9T |
| Close on 10/21/2026 | 698.43 |
| Change that session | +0.60% |
TSLA
• NeutralTesla, Inc.
Relevance: low
| Market | US stocks |
|---|---|
| Sector | Consumer Discretionary |
| Industry | Automobile Manufacturers |
| Market cap | $1.4T |
| Close on 10/21/2026 | 386.55 |
| Change that session | +3.44% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- Bitcoin corrects below $82K after Tesla Q3 results, KOSPI falls
Bitcoin reversed a rally toward $85,000 and fell nearly 3% on Thursday after failing to break a resistance trend line near $84,840, dropping back below $82,000. The move followed Tesla's Q3 results, where revenue of $28.05 billion narrowly missed the $28.13 billion estimate, while capital expenditure of $4.73 billion came in far below the projected $7.96 billion, reviving concerns about AI spending. Musk said spending would rise through 2028. South Korea's KOSPI closed down 3.52%, still struggling to recover from last week's low of 5,460 points. Onchain data showed open interest rising 4.5% to $55.95 billion before the reversal, which the article says raises the risk of sharper liquidations, and it flags the $80,000–$81,500 zone as key support.
- Crypto rises with Asian tech stocks, zcash extends gain after setting upgrade date
Bitcoin rose to about $83,500, its highest level in a week, as Asian tech stocks rebounded on strong earnings. SpaceX and Tesla formed special committees to discuss a merger that would combine more than 30,000 bitcoin held on their balance sheets. Ether gained 0.6% to near $2,460, while zcash extended a jump of about 11% over the past day after developers set a November date for its upgrade. Derivatives data showed futures volume up 19% and liquidations up 76%, with taker volume tilting toward longs. Volatility expectations for bitcoin and ether have cooled, and fresh leverage is building mainly in privacy coins such as ZEC and XMR.
- Boom or Bust, Bitcoin Wins the AI Trade, Bitwise CIO Says
Bitwise CIO Matt Hougan argues in an investor note that Bitcoin benefits across nearly every macro scenario, like the 'Choose Your Own Adventure' books where different paths lead to the same ending. If AI delivers 'superabundance,' scarce assets such as Bitcoin should gain; if the AI bubble bursts, he puts the odds of a government bailout and money-printing at 'nearly 100%,' an environment he says Bitcoin 'was built for.' In a muddle-through scenario of about 3% growth and 4% rates, Bitcoin keeps growing through ETF flows and institutional adoption. Hougan acknowledges risks: Bitcoin fell 50% in days during the 2020 COVID panic before rebounding roughly 20-fold, and a government crackdown or quantum computing could break the thesis. The note comes as BlackRock CEO Larry Fink warned that a halt to data center construction could tip the U.S. into recession.
- 3 Founder Led Stocks With Up To 31% ROE
The article says high interest rates have not cooled the AI investment boom, which is rewarding founders who remain deeply involved in daily decisions. It profiles newcleo (NWCL), which develops lead-cooled fast reactors and MOX nuclear fuel under founder CEO Stefano Buono and generates about €44 million from electric equipment, with a €1.77b market cap; it notes the premium valuation, losses and balance sheet risk tied to that leadership. It also covers Tesla (TSLA), which generates about US$90.8b from automotive and US$12.8b from energy generation and storage, with a US$1.40t market cap, and says much of its valuation depends on Elon Musk's vision across AI, robotaxis, humanoid robotics and battery storage, as well as future profitability and capital access.
- Billionaires Are Selling These 6 Artificial Intelligence (AI) Stocks. Should You Follow?
In Q2, billionaires or their funds sold six Magnificent Seven stocks: Apple (AAPL), Microsoft (MSFT), Amazon (AMZN), Alphabet (GOOG/GOOGL), Meta Platforms (META) and Tesla (TSLA). The author advises retail investors not to simply copy billionaires, since hedge funds trade on shorter horizons and their trades are often disclosed only months later. Investors are wary of AI spending, as hyperscalers commit hundreds of billions of dollars to infrastructure and some companies are generating negative free cash flow. He suggests evaluating each company individually, favouring Amazon, whose planned $220 billion of capital expenditure is offset by 37% AWS revenue growth, and Apple, which has not invested heavily in data centers. He would avoid Tesla, whose valuation of nearly 215 times forward earnings already assumes major success in its robotaxi and humanoid robot businesses.
- Crypto traders seek shelter in bitcoin as altcoins slide and ETF flows wobble
Bitcoin's share of the total crypto market value reached 60% on Wednesday, its highest level since May, even as prices across the wider market weakened. Bitcoin fell below $82,000 on Thursday after briefly rising above $84,000 the day before, while most major tokens were little changed or higher over seven days. Smaller tokens fell more sharply, with the CoinDesk Memecoin Index down more than 5%, the Computing Select Index down 3.5% and the DeFi Select Index down 2.5%. LMAX Group's Joel Kruger said the market is waiting for a fresh catalyst, while Giottus CEO Vikram Subburaj said ETF flows remain volatile and advised against chasing short-term rallies. The Federal Reserve meets on interest rates next week.
Related markets
Latest news
- SoFi Launches Tokenized Deposit That Earns 4.4% and Converts to a Stablecoin
SoFi has launched SoFi Earn (SOFIE), which it calls the first national bank-issued tokenized deposit for consumers, with each token representing $1 held at SoFi Bank. Holders earn a 4.40% APY, and the funds are FDIC-insured up to applicable limits, unlike most stablecoins, while tokens can be converted one-to-one into SoFiUSD to buy crypto or move dollars on blockchain rails. Citing Federal Reserve research, SoFi says roughly $64 billion, about 21% of the stablecoin market, sits idle in forgotten or inactive wallets, and the product aims to keep that money earning. It is SoFi's fifth crypto product in under a year, following its late-2025 return to crypto trading with more than 40 tokens and the launch of SoFiUSD.
- Why Nvidia's new DSX POD could really benefit corporate America
Nvidia unveiled the DSX POD, a pre-built, pre-tested rack of chips that plugs into existing power and can get a data center running in as little as 14 days. The host says the 'AI factory in a shipping container' description is misleading, since the unit includes no building or power, and notes neoclouds often face a four-to-six-month gap between receiving chips and generating revenue. He argues the product may appeal more to corporate America, such as financial firms bringing data processing in-house and renting space for 20 racks, rather than relying on endless cloud bills.
- The UK needs a workable route to regulated DeFi access
Katie Harries, Coinbase's head of policy for Europe, argues that the FCA's proposed crypto rules could amount to a de facto ban on regulated firms providing access to DeFi. The FCA expects regulated platforms to execute customer orders only on FCA-authorized venues, but DeFi protocols have no authorized person behind them. The rules apply from October 2027, and the FCA is not writing DeFi-specific rules, applying the same standards as fully centralized trading. The author argues a ban would push activity beyond regulators' visibility, and that clear consumer information, firm responsibilities and customer consent before leaving a regulated platform would address the risks better. The article points to the EU, where ESMA has proposed allowing regulated firms to provide DeFi access, and the US, where the SEC granted an Innovation Exemption for peer-to-peer trading of tokenized stocks.
- SEEQC Demonstrates Quantum Error Correction Performance Gains with Industry First Digital Interface Optimized Decoder Architecture using NVIDIA Ising and NVQLink
SEEQC reported results from a simulated quantum processor showing that combining its chip-based pre-decoder with NVIDIA Ising, linked through SEEQC Digital Link and NVIDIA NVQLink, improved two key decoding metrics, latency and logical error rate, by approximately 50% compared with running NVIDIA Ising as a standalone pre-decoder. The company says these metrics dictate how well fault-tolerant quantum systems scale, and that specialized processing close to the QPU reduces the data sent to GPU-based classical compute. CEO John Levy said tight integration of quantum processors with HPC infrastructure will be key, while NVIDIA's Sam Stanwyck said open models and interfaces let quantum builders accelerate hardware with AI and GPUs. The next step is chip-to-chip integration of a quantum processor within advanced HPC infrastructure for quantum AI applications.
- Rockwell Automation Expands FactoryTalk Conductor with NVIDIA Nemotron Support
Rockwell Automation (NYSE: ROK) said its FactoryTalk Conductor AI orchestration platform now supports NVIDIA Nemotron open models, giving manufacturers more deployment options. The approach lets companies keep engineering and production data in their own environments and retain control over infrastructure, governance and cost, while still using Rockwell-verified agents and skills. The platform lets users start engineering tasks through natural language and points toward agent-driven workflows in which engineers remain responsible for oversight and critical decisions.
- Why Tesla shareholders should be 'a little bit nervous' about a SpaceX merger
Tesla and SpaceX have formed special committees to discuss a possible merger, which would be the largest in history, with SpaceX valued at about $2.2 trillion and Tesla at about $1.7 trillion. One speaker warns Tesla shareholders could swap into SpaceX at about 0.7 SpaceX shares per Tesla share before any premium, with Elon Musk holding about 82% of the vote, raising the question of whether Tesla would be folded in at a discount. Dave Nadig calls the committees theatrics given Musk's 79% voting control, and says the real concern is consolidating control in one person, which makes him skeptical the deal benefits shareholders, who are exposed through index funds regardless.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.