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Bitcoin broke above $84,500 on Wednesday, as SpaceX's earnings report and Musk's comments rekindled market risk appetite.
Bitcoin's price broke above $84,500 on Wednesday, reaching a high of $84,588, up 2% in 24 hours and 3% over seven days. This rally was primarily boosted by strong earnings from SpaceX and comments from its owner, Musk, regarding a potential merger between SpaceX and Tesla. SpaceX reported third-quarter revenue of $14.6 billion, a 161% year-over-year increase, significantly exceeding expectations. Additionally, spot Bitcoin ETFs from institutions such as BlackRock, Fidelity, and Grayscale attracted over $549 million in new investments on Monday and Tuesday this week. Although Bitcoin's price remains more than 30% below its all-time high of $126,080 set in October 2025, analysts believe the cryptocurrency has re-entered a bull market.
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Disclaimer: This content reflects the author's personal views only and does not constitute investment advice.
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