Bitcoin tops $84,000 as US stocks climb after SpaceX Q3 earnings beat

By Khal · · 2 min read

Editorial illustration: A large gold Bitcoin coin stands beside a white rocket and a columned financial building on stepped stone platforms, illuminated against a dark blue sky.
AI-generated editorial illustration · AI-generated editorial illustration · Published Oct 21, 2026, 4:05 p.m. (1 hour ago)

In brief

  • Bitcoin passed $84,000 after Wednesday's Wall Street open, up nearly 2% per TradingView data.
  • SpaceX reported Q3 revenue of $14.6 billion, up 161% year-on-year, with $4.4 billion net income.
  • Crypto short liquidations reached nearly $110 million over four hours, CoinGlass data showed.
  • BTC/USD broke above its four-hour 200-period SMA for the first time since Oct. 14.

SpaceX numbers set the tone

SpaceX reported Q3 revenue of $14.6 billion after Tuesday's market close, according to its earnings release as cited by Cointelegraph. That's up 161% year-on-year and nearly 15% above expectations. Net income came in at $4.4 billion for the quarter.

Chief financial officer Bret Johnsen credited launch leadership, recurring Starlink revenue and infrastructure expansion for driving operating leverage.

Cointelegraph framed bitcoin's move as a reaction to those numbers (that's the outlet's read, not an established cause). In a note quoted by CNBC, Truist Securities analysts suggested SpaceX's results had helped calm market fears about corporate spending on AI buildouts.

“Despite market concerns relating to financing for AI cloud providers this past week, we believe SpaceX’s third-quarter 2026 represents the first data point during the earnings season to support the bull case for AI cloud providers,” Truist wrote.

Those worries aren't new.

The previous week, they'd come back in a tech sell-off that started in South Korea and spread to Asia and the US.

Equities in the green

At the start of the US session, the Nasdaq Composite Index was 0.7% higher at 26,601 points, per TradingView data reported by Cointelegraph. It later gave back some of those gains. South Korea's KOSPI Composite Index closed Wednesday's session 3.29% higher at 5,735 points, according to the same data. Tesla and Meta were scheduled to report earnings after Wednesday's market close.

Shorts cleared around $84,000

Bitcoin's price action started clearing ask liquidity around $84,000. CoinGlass data showed total crypto short liquidations of nearly $110 million over four hours.

The level had history. The $84,000 mark had multiple equal highs from Oct. 11 to Oct. 14, which reinforced it as resistance, according to Cointelegraph.

On four-hour time frames, BTC/USD broke above its 200-period simple moving average at $83,878. It's the first time that's happened since Oct. 14.

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