Bloomberg reported Bitcoin (BTC) rose as much as 2.4% to $84,737 on Oct. 21, during a session when U.S. technology shares gained after SpaceX released quarterly results.
Bloomberg connected the move with stronger risk appetite following SpaceX’s earnings and gains in technology stocks. CoinGlass figures cited by the outlet pointed to fresh growth in outstanding positions tied to Bitcoin perpetual futures after traders had spent several weeks cutting leverage. Bloomberg also cited short covering as a factor. Himanshu Sahay, co-founder of Arch Lending, told the outlet that much of the rebound reflected traders repositioning rather than taking on more leverage.
The Dow Jones Industrial Average added 360 points, or 0.7%, on Oct. 21, while the Nasdaq Composite rose 1.1% and the S&P 500 gained 0.6%, the Associated Press reported. SpaceX shares advanced 7.8% after its profit exceeded analysts’ expectations, AP said. The stock gains provide market context but do not establish how much they contributed to Bitcoin’s move.
SpaceX’s Oct. 20 earnings results, filed with the Securities and Exchange Commission, showed net income of $4.4 billion for the quarter ending Sept. 30, 2026, compared with a $1.1 billion loss a year earlier. Revenue was $14.6 billion, up 161% from $5.6 billion.
Separately, the Office of the Comptroller of the Currency (OCC) issued its final rule under the GENIUS Act on Oct. 21. It covers permitted and foreign payment stablecoin issuers under the agency’s jurisdiction, along with certain custody activities by firms it supervises. Comptroller of the Currency Jonathan V. Gould said the framework sets “strong standards for reserve backing, redemption and risk management.” The rule takes effect Jan. 18, 2027. The OCC said it will issue a separate notice when issuer applications can begin; a separate rulemaking will address Bank Secrecy Act, anti-money-laundering and sanctions provisions.
Glassnode’s Oct. 21 report listed the Federal Reserve’s Oct. 28 decision and MSCI’s Nov. 11 index-removal list as upcoming indicators to watch.
