Bitcoin drops below $82K following Tesla's Q3 results and KOSPI decline

Bitcoin fell nearly 3% on Thursday, returning near $81,500 after failing to break above $85,000. This movement followed Tesla reporting a lower-than-expected Q3 capital expenditure (capex) of $4.73 billion, missing the $7.96 billion projection, while South Korea's KOSPI Composite Index closed down 3.5%. Ryan Lee, senior vice president of product and strategy at Direxion, told Reuters that lower capex suggests less of an 'all-in' approach to the AI arms race than expected from Elon Musk, although Musk stated spending will become more noticeable in the tens of billions by 2028.