Bitcoin hovers around $83,000 as SpaceX and Super Micro earnings lift tech
Bitcoin rose to $82,700 during Asian trading hours.
The short version
- ZEC jumped 11% to $1,260 after a major upgrade.
- SpaceX gained 8% and Super Micro rose 16%.
- The Fed meets on October 27 and 28.
- Bitcoin needs $84,000 before then.
Check your crypto portfolio this week. Bitcoin just climbed 1.3% to sit above $82,700 during Asian morning hours, hovering right around the $83,000 mark as strong earnings revived the broader tech trade. SpaceX, the rocket company founded by Elon Musk, rose 8% in extended trading, while Super Micro Computer, the server maker based in California, jumped 16%.
According to CoinDesk, the rest of the market caught the wave. ZEC, the privacy coin, led major gainers by jumping 11% to about $1,260 after developers set the mainnet activation height for its next upgrade, called NU7. That upgrade cuts block times from 75 seconds to 25 seconds so payments confirm three times faster.
Other tokens followed the green arrow. HYPE and DOGE each gained more than 3%, XRP added nearly 3% to reach $1.33, and ether rose 2% to about $2,450. On the other side of the world, South Korea’s Kospi index jumped 3.7% and Taiwan’s Taiex gained 1.4%.
Hashdex noted to CoinDesk that bitcoin’s recent bear phase has lasted 359 days, matching historical lengths since 2011. Short-term holders now own just 16% of the total Bitcoin supply, the lowest share since January 2023. Now all eyes turn to Washington.
The Fed meets on October 27 and 28, and Bitcoin needs to climb back above $84,000 before that test arrives.
