Bitcoin rebounds above $83,000 as strong US earnings and falling oil prices lift risk appetite

The move also forced short positions out of the market, with around $125 million in shorts liquidated within an hour, while open interest climbed to roughly $53.9 billion.Crypto TrackerTOP COINS (₹) XRP128 (4.0%)Ethereum232,245 (2.63%)BNB70,423 (1.91%)Bitcoin7,872,923 (1.85%)Tether94 (-0.47%) Do you own any? Institutional flows have also improved. U.S. spot Bitcoin ETFs attracted about $526.6 million in net inflows on Oct. 19, indicating that investors were buying into recent weakness.

Ethereum ETF demand, however, remains noticeably softer, Sehgal further said.Live EventsThe global crypto market capitalisation went up 2.1% to $2.88 trillion, according to the data on Coinmarket cap. Minal Thukral, Executive VP-Growth & Crypto Business Head at CoinDCX said Bitcoin is holding above the support zone around $81,500, which has now turned to be pivotal as the levels have now risen above $82,700 and the fear and greed index has stabilised around 51, but the sentiments remain neutral.

Over the last week, Bitcoin was down 0.4% and Ethereum was down 2.3%. Among the major altcoins, XRP, Solana, Dogecoin, Hyperliquid and Cardano corrected upto 4.6% whereas Tron was up 0.4%.Prateek Gupta, Head of Business, Mudrex said Bitcoin is trading near $83,000, supported by improving risk sentiment, with US equities rallying on strong earnings and crude oil falling nearly 5% on hopes of a potential US-Iran deal.

Institutional demand also strengthened, with US spot Bitcoin ETFs recording $526.6 million in inflows, their highest since September 22. With next week’s Fed rate hike odds at 15–17%, Bitcoin needs to clear $86,000 resistance, while $80,000 remains key support, said Gupta.Market perspectiveCoinSwitch Markets Desk: BTC briefly climbed to $83.3K, supported by stronger-than-expected Q3 corporate earnings and a recovery in U.S. equities.

BTC subsequently consolidated near $82K after testing resistance around its 21-day moving average of $83,230 However, uncertainty around the US Federal Reserve’s policy outlook continues to limit conviction. Investors should avoid chasing short-term rallies. Consider staggered entries, maintain measured position sizes and monitor ETF flows and Fed signals before increasing exposureAvinash Shekhar, Co-Founder & CEO, Pi42: Bitcoin holding above $80,000 for 33 consecutive days is a meaningful sign of resilience in a market navigating shifting macroeconomic conditions.

For investors, one of the most overlooked opportunities emerges when selling pressure begins to fade before prices make a decisive recovery(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)(You can now subscribe to our ETMarkets WhatsApp channel)