Bitcoin gives back its run at $85,000 as Tesla and Meta fail to calm AI nerves
This story deserves to be shared
Send it to someone who'd care, or post it on your networks.
Oct 21, 2026, 11:51 p.m. EDT2 min readBitcoin gives back its run at $85,000 as Tesla and Meta fail to calm AI nervesSummaryBitcoin traded just below $82,800 after a brief surge to nearly $85,000 reversed, leaving the cryptocurrency near a key $82,500 support level that some analysts say could precede a slide toward $70,000. Most major cryptocurrencies declined, with HYPE, Dogecoin and Solana among the laggards, while Zcash gained nearly 3% and XRP edged higher. Disappointing corporate outlooks and renewed doubts about artificial intelligence spending weighed on U. S. stock futures and Asian markets, while oil rose amid renewed Middle East tensions. Bitcoin was flat at just under $82,800 as of Thursday Asian morning hours after giving back a late-Wednesday surge to nearly $85,000. Mixed results from Tesla and Meta knocked Nasdaq futures lower and revived doubts about the AI trade. ZEC was the only standout gainer among the majors, up nearly 3% to about $1,290, and XRP added less than 1%. HYPE was the laggard, down 3% to about $79. DOGE fell 2% and SOL lost about 1%, while ether, BNB and TRX slipped less than 1%, according to CoinDesk data. The breakout didn’t last long.
This article is an excerpt. To read the full content, visit the original source. CoinDesk
Related articles
3 Changes to Treasury Direct You Need to Know
If you need to redeem savings bonds or use other services, be aware of these changes to Treasury Direct.
IBM falls as analysts question staying power of software rebound
Part of the third-quarter rebound was driven by deals delayed from the previous quarter, they s
CryptoQuant CEO calls rising Bitcoin hashrate ‘indirect bullish signal’ from institutions
Bitcoin’s rising hashrate represents an “indirect bullish signal” from institutional investors that are backing several public Bitcoin miners, according to analytics platform CryptoQuant’s founder and CEO, Ki Young Ju. “Higher hashrate means stronger security and better fundamentals as a store of value,” wrote Ju in a Thursday X post, adding that he sees this as a bullish signal since public miners are largely backed by traditional finance (TradFi) institutions. Hashrate is a measure of the computational power of a blockchain network, indicating how many hash calculations are performed per second. Bitcoin’s (BTC) hashrate has recovered by about 45% from the summer’s lows, from about 726 exahashes per second (EH/s) in July to roughly 1,050 EH/s on Wednesday, according to CryptoQuant data. The recovery is seen by Ju as an institutional endorsement of Bitcoin’s security and long-term value as well as generally seen as a sign of confidence from BTC miners. Still, global hashrate remained below its peak of 1,305 EH/s clocked in October 2025, when Bitcoin’s price was trading above $111,000. It was last trading at roughly $81,843 as Thursday’s US equities markets opened.
Jobless claims near the lowest since the 1960s as low-fire trend continues
Initial filings for unemployment insurance slipped to a seasonally adjusted 194,000.
The 3 questions every AI investor needs to ask right now
Your stock portfolio may have more AI overlap than you realize.
Thailand SEC says several companies eye crypto ETFs, none has applied
Thailand’s SEC says several asset managers have sought consultations on spot crypto ETFs, but it cannot confirm whether the first funds will launch in 2026. Thailand’s new spot cryptocurrency exchange-traded fund (ETF) framework is attracting interest from asset managers, but the regulator has yet to receive its first application. Several asset management companies have approached Thailand’s Securities and Exchange Commission (SEC) for consultations about launching crypto ETFs, the regulator told Cointelegraph in a statement Thursday. “However, no asset management company has yet submitted an application for approval to establish a crypto ETF,” the SEC said, without identifying the companies involved. The SEC also said it was too early to determine whether the first products would receive approval before the end of 2026, noting that the timing would depend on applicants’ readiness, regulatory reviews and investor protection requirements. Thailand’s new crypto ETF rules took effect Friday, allowing asset managers to establish locally listed spot Bitcoin (BTC) and Ether (ETH) ETFs.
0 comments
No comments yet. Be the first to share your thoughts!