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Bitcoin (BTC) fell nearly 3% on Thursday after an attempt to break higher was rejected near $85,000.
Key points:
- Bitcoin returned to near $81,500 after Tesla reported a lower-than-expected Q3 capital expenditure (capex) of $4.73 billion.
- South Korea’s KOSPI Composite Index saw fresh weakness, closing down 3.5% on Thursday.
- BTC price action rejected from a resistance trend line at $84,840, preserving a pattern of lower highs.
Tesla capex underspend raises questions
Data from TradingView showed BTC/USD retracing around Wednesday’s daily close, subsequently returning below $82,000. The pair gave back the entirety of the gains made on that day, when price peaked at around $84,840 on Bitstamp.
BTC/USD one-hour chart. Source: Cointelegraph/TradingView
Higher-than-expected US corporate earnings had helped spark a rally in both crypto and stock markets. However, results from Tesla after the Wall Street closing bell did not provide the same…
