In this article4 sections
Bitcoin rose to $84,600 on Wednesday, gaining nearly 2% and returning to a level it had not traded at since Oct. 7, after SpaceX‘s third-quarter results beat Wall Street expectations and pushed US stocks higher, Cointelegraph reported.
After Tuesday’s market close, the aerospace and AI company posted Q3 revenue of $14.6 billion, up 161% year on year and about 15% above estimates. Net income came in at $4.4 billion. Cointelegraph noted the Nasdaq Composite was up 0.7% at 26,601 points early in the US session before giving back part of the gain.
Also read: Musk Says SpaceX Could Be Worth Orders of Magnitude More Than Global Economy
Key facts
- BTC/USD gained nearly 2% on the day to $84,600, per TradingView data cited by Cointelegraph.
- SpaceX Q3 revenue was $14.6 billion, with net income of $4.4 billion and adjusted EBITDA of $8.8 billion.
- SpaceX reported $1.573 billion in digital assets as of Sept. 30, 2026, consistent with its 18,712 BTC holding, according to News.bitcoin.
- Total crypto short liquidations approached $110 million over four hours, per CoinGlass data cited by Cointelegraph.
- South Korea’s KOSPI Composite Index closed 3.29% higher at 5,735 points.
Earnings reshape the trading range
On four-hour charts, BTC/USD cleared its 200-period simple moving average at $83,878 for the first time since Oct. 14. The $84,000 area had held repeated equal highs set between Oct. 11 and Oct. 14, making it a clear resistance zone. Analyst Rekt Capital wrote on X that a daily close above $83,400 was needed for Bitcoin to revisit the top of its local range, and warned that a rejection there would send price back below $82,500.
News.bitcoin reported SpaceX’s business mix has shifted toward AI: the Super Intelligence division generated $7.56 billion, an 830% increase, overtaking Starlink, which brought in $5.25 billion, up 69%, on 13.6 million subscribers. Space operations contributed $1.77 billion. News.bitcoin also noted SpaceX’s digital asset line fell from $1.637 billion at the end of December 2025, a $64 million decline tied to an unrealized loss, not a confirmed sale.
Also read: SpaceX stock slips below $135 IPO price as Starship test flight approaches
The outlets differ in emphasis on the revenue figure. Coincentral put Q3 revenue at $14.58 billion and EPS at $0.35 against a $0.15 estimate, while News.bitcoin reported estimates of roughly 13 to 16 cents. Coincentral also reported that SPCX shares closed at $147.79 and rose about 5% after hours once the earnings call ended, and that the company guided Q1 2027 revenue to $33 billion to $37 billion against a $22 billion consensus.
Why it matters
For crypto traders, the earnings beat worked as a proxy for risk appetite: stronger corporate results eased recent worries about AI capital spending, a concern that had triggered a tech sell-off starting in South Korea. Bitcoin’s move came alongside equity gains rather than in isolation, reinforcing the link between BTC and technology stocks in the current cycle.
Truist Securities analysts, quoted by CNBC through Cointelegraph, described the quarter as the first data point this earnings season supporting the bull case for AI cloud providers. For SpaceX itself, the bitcoin position remains a modest slice of a balance sheet holding about $89.9 billion in cash and marketable securities, with no new purchases or sales indicated.
What to watch
Tesla and Meta report after Wednesday’s close, giving the market a fresh read on whether the earnings-driven rally holds. Bitcoin traders will watch whether the daily candle closes above $83,400, the level Rekt Capital identified as the trigger for a move to the upper end of the range. This is not financial advice; cryptocurrency prices are volatile and direction can change quickly.
Reported by cointelegraph.com.
Sources: Cointelegraph, News.bitcoin, Coincentral