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Bitcoin (BTC) returned to $83,000 after Tuesday’s Wall Street open as US stocks gained on strong earnings reports.
Key points:
- Bitcoin gained up to 1.5%, joining upside in US stocks on the back of some higher-than-expected Q3 earnings results.
- Oil prices hit $101 per barrel early on Tuesday before dropping nearly 5% in hours as equities gained.
- BTC price action sought to challenge the 21-day simple moving average (SMA) at $83,230.
BTC price swings as US earnings, oil moves drive markets
Data from TradingView showed BTC/USD gaining 1.5% to reach its highest levels since Oct. 14 before dropping back toward $82,000.
BTC/USD one-hour chart. Source: Cointelegraph/TradingView
Crypto joined US stock markets in rallying as Q3 earnings reports beat expectations. Both General Motors and industrial conglomerate 3M beat earnings expectations, while the latter also increased its profit forecast.
The Dow Jones Industrial Average gained 1.2% on the back…
