Bitcoin hovered sideways just beneath $82,800 during Thursday morning trading hours in Asia, erasing an earlier Wednesday push that had reached close to $85,000. Uneven financial reports from Meta and Tesla dragged down Nasdaq futures and reignited skepticism regarding artificial intelligence investments.
Among major digital assets, ZEC stood out as the sole notable gainer, advancing roughly 3% to reach about $1,290, whereas XRP climbed less than 1%. Conversely, HYPE underperformed with a 3% loss down to roughly $79. DOGE retreated 2%, SOL dropped around 1%, and ether, BNB, and TRX all declined by under 1%, based on metrics provided by CoinDesk.
The upside push proved short-lived. Bitcoin successfully surpassed $84,000—the resistance ceiling that previously halted its progress on October 13 and 14—and peaked near $84,800 late Wednesday. Over a span of roughly six hours, it pulled back by upwards of $2,000 to trade around $82,600, delivering a difficult session for traders who bought into the rally.
This price action leaves bitcoin resting right on $82,500, a critical threshold that several market observers caution could pave the way for a deeper correction toward $70,000 if the support level gives way definitively.
The broader technology sector offered no relief. Tesla shares slid 3% in extended trading following a reduction in its capital expenditure guidance, while semiconductor equipment manufacturer Lam Research declined 7% on account of a disappointing forward outlook.
Although Meta gained 2% after expanding its artificial intelligence expenditure budget, the announcement failed to improve overall investor sentiment. Consequently, Nasdaq 100 futures retreated 1.1% and S&P 500 futures fell 0.5%.
Asian equities experienced sharp losses. South Korea’s Kospi index dropped 2.2% as major players like Samsung Electronics and SK Hynix pulled back, while China’s CSI 300 index fell 1.7%, pushing closer to bear market territory. Alibaba paced a downturn across Chinese e-commerce equities following regulatory directives from Beijing demanding stricter quality oversight. Meanwhile, crude oil prices advanced as geopolitical conflicts reignited across the Middle East.
Originally published at https://www.coindesk.com/markets/2026/10/22/bitcoin-gives-back-its-run-at-usd85-000-as-tesla-and-meta-fail-to-calm-ai-nerves.
