Bitcoin Rises as US Stocks Gain and Oil Prices Drop

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High US corporate earnings reports boosted stock markets and saw BTC price hit $83,300 before reversing at a 21-day trend line.

Bitcoin (BTC) returned to $83,000 after Tuesday’s Wall Street open as US stocks gained on strong earnings reports.

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

BTC/USD gaining 1.5% to reach its highest levels since Oct. 14 before dropping back toward $82,000.

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.

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