US companies' earnings report surpassed expectations and boosted BTC to 83,000, and lower oil prices and interest rates boosted the rise

According to Woofun AI, the Bitcoin (BTC) price rebounded strongly and hit the key psychological threshold of $83,300, driven by the double macroeconomic benefits of US corporate performance generally exceeding market expectations and falling international oil prices. Although the overall investment climate for risk assets improved due to the strengthening of the stock market, Bitcoin experienced short-term technical resistance after rising, causing part of the increase to reverse, and the market entered a stage of high level instability and consolidation.

As of 8:09 a.m. on the 21st, the transaction price of BTC on the Korean digital asset trading platform Upbit was 100.44 million won, a slight increase of 0.22% from the price at 9 a.m. on the previous trading day.

Meanwhile, BTC on the global trading platform Binance performed even stronger, rising 1.22% in price to $82,957. Mainstream altcoins followed suit, with the price of Ethereum (ETH) climbing 1.93% to $2,450.34, and Ripple (XRP) rising 2.46% to $1.34.

According to data compiled by Woofun AI, market liquidation activities have been intense in the past 24 hours. CoinGlass statistics show that BTC positions worth approximately US$79.25 million (approximately KRW 105.1 billion) have been forcibly closed, with short sales accounting for 61.3% of them. In the digital asset market as a whole, the total amount of liquidations reached USD 316.37 million (approximately KRW 442.9 billion), reflecting the tremendous pressure faced by highly leveraged bulls in price fluctuations.

The core driving force behind this BTC price rebound was the strong performance of the US stock market, particularly the unexpected release of earnings reports from traditional industries and AI giants. BTC's biggest increase since the opening of the New York stock market reached 1.5%, a new high since the 14th. General Motors (GM.US) and 3M (MMM.US) both reported better-than-expected results. Among them, 3M (MMM.US) also raised its full-year profit forecast, driving the Dow Jones 30 Industrial Average Index up 1.2% intraday, hitting its highest level since September 14. In post-market trading, AI-related companies further boosted tech stock sentiment.

SpaceX (SPCX.US)'s net profit for the third quarter reached $4.4 billion, far exceeding market expectations of $1.88 billion. Revenue increased 161% year over year, and its stock price rose more than 5% in after-hours trading. Supermicro Computer (SMCI.US) also handed over a brilliant questionnaire to help strengthen the AI infrastructure sector. Driven by this, Nasdaq 100 futures rose 1% and S&P 500 futures rose 0.5%. Previously, AI companies' high valuations and large-scale capital expenditure suppressed the performance of technology stocks, but with the verification of actual profitability, investors' attention has turned to the company's growth potential and competitiveness.

The improvement in the macro liquidity environment also provided strong support for BTC. Edward Jones' Angelo Curcapas pointed out that there is currently no sign that AI demand is slowing down, and the market is shifting from simply chasing AI concepts to focusing on corporate financing capabilities and core competitiveness.

Meanwhile, the price of West Texas Intermediate Crude Oil (WTI) fell back to around $98.15 after breaking through $101 per barrel during the intraday period, and concerns about inflation eased. The US 10-year Treasury interest rate fell 3.7 basis points to 5.10%, creating a favorable environment for risky assets.

However, geopolitical uncertainty still exists. Although negotiations between the US and Iran continue, claims that an agreement is about to be reached have been denied by relevant parties, and potential risks in the Middle East region still need to be wary.

From a technical perspective, whether BTC can break through the key resistance level will be the key to determining the next trend. Keith Allen, co-founder of the digital asset trading platform MaterialIndicators, sees the simple moving average of $83,230 as a short-term resistance level, and BTC has broken through for a short time but has not stabilized. He sees the 50-day moving average of $81,570 as an important support level and emphasizes that if this support is valid multiple times, it indicates that buyers are actively defending. Alternative's Fear and Greed Index recorded 55 points on the same day (state of greed), down from 59 points the previous day. The index ranges from 0 to 100. The lower the value, the higher the selling pressure, and the higher the value, the stronger the buying spirit. The current indicator shows that although the market sentiment is optimistic, it has cooled slightly.

Follow BlockMedia on Google News or get the latest news on BlockMedia's Telegram channel. The BM data briefing is posted every morning at 7 a.m., and covers core data such as BTC, ETH, and XRP quotes, the Fear and Greed Index, ETF fund flows, and the Korean won premium.

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