Bitcoin nears $85,000 amid renewed risk appetite following SpaceX earnings

Bitcoin rose above $84,500 on Wednesday, reaching nearly $84,588 earlier that morning, up 2% over 24 hours and 3% over seven days. This rise coincides with SpaceX reporting $14.6 billion in third-quarter revenue, a 161% increase year-over-year, and Elon Musk discussing a potential SpaceX-Tesla merger. U.S. investors also invested over $549 million into spot bitcoin exchange-traded funds managed by BlackRock, Fidelity, and Grayscale in the past two days. Bitcoin remains over 30% below its October 2025 all-time high of $126,080.