Bitcoin rose above $84,500 on Wednesday, reaching $84,461 after gaining 2% over 24 hours and 3% over seven days. The advance followed SpaceX reporting third-quarter revenue of $14.6 billion, up 161% year over year, and Elon Musk discussing a potential merger between SpaceX and Tesla. Spot bitcoin exchange-traded funds managed by BlackRock, Fidelity, Grayscale and other firms received more than $549 million in new investments on Monday and Tuesday, according to Coinglass data. Bitcoin remains more than 30% below its October 2025 record of $126,080, but analysts say the cryptocurrency has returned to a bull market after spending most of the year in a bear market.
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