Bitcoin and Major Cryptocurrencies Rise as Oil and Treasury Yields Cool
Bitcoin rose 1.40% to $82,749.29 as crude oil prices and Treasury yields fell, with Ethereum, XRP, Solana and Dogecoin also gaining. CryptoQuant said spot demand remains weak despite signs of whale accumulation.
Leading cryptocurrencies advanced on Tuesday as crude oil prices and Treasury yields declined, lifting risk appetite. Cryptocurrency 24-Hour Gains +/- Price (Recorded at 9:19 p.m. EDT): Bitcoin (CRYPTO: BTC) rose +1.40% to $82,749.29; Ethereum (CRYPTO: ETH) gained +1.90% to $2,433.33; XRP (CRYPTO: XRP) added +2.60% to $1.33; Solana (CRYPTO: SOL) increased +1.60% to $106.30; and Dogecoin (CRYPTO: DOGE) climbed +3.00% to $0.08176. Bitcoin traded between $81,272 and $83,249.
Ethereum reached an intraday high of $2,471 before consolidating. It remained volatile around the $1,700 mark as buying and selling pressure from bulls and bears drove significant swings. Cryptocurrency-related stocks also rose. Strategy Inc.
(NASDAQ: MSTR) closed up 4.93%, while Bitmine Immersion Technologies Inc. (NYSE: BMNR) gained 5.80%. Strategy Executive Chairman Michael Saylor said Bitcoin had entered a new four-year bull market and predicted it could return to $100,000 within 12 months. According to Coinglass data, more than 270 million was liquidated from the cryptocurrency market in the last 24 hours.
Bullish long positions accounted for 193 million of the liquidations. Bitcoin’s open interest spiked 2.12%. Over the last 24 hours, Binance retail and whale derivatives traders reduced their long exposure to Bitcoin. At 9:19 p.m.
EDT, the leading cryptocurrency gainers were Zcash (ZEC), up +12.60% to $1,267.01; Aerdrome Finance (AERO), up +11.30% to $0.8701; and Worldcoin (WLD), up +11.10% to $0.5849. Major U.S. stock indexes advanced on Tuesday. The Dow Jones Industrial Average rose 529.85 points, or 1.02%, to finish at 52495.88.
The S&P 500 added 0.28% to close at 7712.57, while the Nasdaq Composite slipped 0.02% to 26424.82. The United States Oil Fund (NYSE: USO), which tracks WTI crude oil, declined 0.12% to $160.61. The move followed an unverified report that Qatar and Pakistan had proposed restarting negotiations to end the conflict with Iran. The 30-year Treasury bond yield dropped to 5.408% before recovering to 5.44%.
Bitcoin Headed Lower? Rekt Capital, a widely followed cryptocurrency analyst, said Bitcoin’s weekly close below $82200 sets up a “post-breakdown bearish retest.” “If Bitcoin turns ~$82,200 into new resistance, price would drop lower within the The analyst said Bitcoin had closed the week below the ~$82200 level, leaving it vulnerable to a bearish retest of that area as new resistance. If ~$82200 holds as resistance, the price could fall further within the current weekly range. The analyst described Bitcoin as bearish at the time of the post, dated October 20, 2026.
On-chain analytics firm CryptoQuant highlighted a divergence: large BTC holders were shifting from distribution toward accumulation, while spot-market demand remained weak. The firm said the market was moving from “fewer sellers” toward a possible bottom, but a sustained rally would require stronger spot demand. JPMorgan projects annualized returns of 10%.