A Bitcoin price rally that briefly touched near $85,000 on Wednesday night was erased during the Asian morning session on Thursday (10/22/2026). Bitcoin traded flat around $82,800, hovering back near its crucial support level of $82,500. Analysts warn that a break below this level opens the risk of further downside toward $70,000. The weakness did not stem from crypto-native issues, but rather from a sell-off sweeping global tech equities.
U.S. Tech Stock Pressure Spreads to Asian Markets
Negative sentiment began with earnings reports from several U.S. tech companies. Tesla shares fell 3% in after-hours trading after trimming its capital expenditure (capex) forecast, while semiconductor equipment maker Lam Research tumbled 7%. Although Meta gained 2% following an announcement of increased artificial intelligence (AI) spending, that rise failed to stem broader market declines. Nasdaq 100 index futures slid 1.1%, and the S&P 500 fell 0.5%.
The Wall Street slump spilled over into Asian markets hours later. South Korea’s Kospi index plunged 2.2%, dragged down by memory chipmakers Samsung and SK Hynix. In China, the CSI 300 index slipped 1.7%, pushing it closer to bear market territory. At the same time, global crude oil prices ticked higher amid escalating geopolitical tensions in the Middle East.
Tesla Retains $972 Million Bitcoin Stash
Amid revenue pressure in the third quarter (Q3) of 2026, Tesla confirmed in its latest report that it did not sell any of its Bitcoin holdings. The crypto assets held by the company are valued at $972 million. The decision to retain these digital assets drew market attention, particularly as Tesla’s own shares came under pressure following cuts to its capex forecast.
Altcoins Split in Mixed Trading
The impact of the stock market slide was not felt uniformly across all crypto assets. Several major altcoins moved in the opposite direction. Zcash (ZEC) led gainers with a 3% jump to around $1,290, while XRP edged up by less than 1%. On the other hand, several tokens faced pressure: HYPE dropped 3% to $79, Dogecoin (DOGE) fell 2%, Solana (SOL) lost 1%, while Ethereum and BNB posted minor losses.
For market participants, the $82,500 level is now a key threshold to watch closely. Bitcoin’s ability to hold above this mark serves as a buffer preventing a slide toward the $70,000 range, as warned by analysts.
Dilansir dari CoinDesk.
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Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
