Bitcoin rallies back as tech rebound sparks speculative appetite

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The Economic Times daily newspaper is available online now. Read Today's Paper Bitcoin rallies back as tech rebound sparks speculative appetiteBy BloombergLast Updated: Oct 22, 2026, 07:27:00 AM ISTSynopsis

Bitcoin has surged by 2.4% to $84,737 amid increased enthusiasm for risk assets like technology stocks. This rally, driven partly by SpaceX earnings, reflects a broader revival in speculative trading. The Office of the Comptroller of the Currency has also announced supportive measures for payment stablecoin issuers. Additionally, indications show a rise in open interest for perpetual futures, after a period of deleveraging.

Bitcoin climbed alongside technology stocks as a revival in risk appetite spread to cryptocurrencies, lifting the token out of a bout of listless trading and offering another sign of resurgent speculative fervour across global markets.

The original digital asset rose as much as 2.4% to $84,737 as a rally sparked by SpaceX earnings helped reignite enthusiasm for riskier assets, even as questions lingered over the sustainability of the artificial intelligence boom.

Read more: Global Market Today: Asian stocks mixed as oil rally, AI concerns weigh on sentiment

Crypto TrackerTOP COINS (₹) XRP128 (0.83%)Bitcoin7,911,395 (0.63%)BNB70,465 (0.16%)Ethereum232,170 (-0.13%)Tether94 (-0.31%)Also helping sentiment: the Office of the Comptroller of the Currency unveiled a final measure for payment stablecoin issuers, in latest sign pro-industry development.

Read more: Singapore-based Ascertis Credit secures $700 million for Fund IV

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The latest uptick has been in part driven by a rebuilding of leverage via perpetual futures. Open interest, or the total outstanding number of the futures contracts, has been rising again after weeks of deleveraging, according to data compiled by Coinglass.
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