Bitcoin retreats from $85,000 as tech earnings weigh on markets

Bitcoin retreats — Bitcoin retreated from a brief surge toward $85,000 on October, 21, 2026, as disappointing corporate outlooks from major tech firms soured broader market sentiment.

The cryptocurrency traded just below $82,800 in Asian morning hours after failing to hold gains above $84,000 late Wednesday. Analysts are now watching the $82,500 support level, with some suggesting a break below could lead to a test of $70,000.

The pullback coincided with a decline in U.S. stock futures, driven by mixed quarterly results from Tesla and Meta. The reports revived investor doubts about the sustainability of artificial intelligence-related spending, a key theme that has influenced risk assets.

Most major altcoins followed Bitcoin lower, with Hyperliquid (HYPE), Dogecoin, and Solana among the laggards. Zcash (ZEC) was a notable exception, gaining nearly 3%, while XRP edged slightly higher.