A Bitcoin reversal left the cryptocurrency just below $82,800 during Asian morning trading on October 22, 2026, after a late-Wednesday rally toward $85,000 unraveled. The retreat coincided with weaker U.S. technology futures as corporate updates failed to ease concerns about artificial intelligence spending.
Key Takeaways
- Bitcoin briefly reached about $84,800 before falling more than $2,000 within roughly six hours.
- Most major cryptocurrencies declined, while Zcash gained nearly 3% and XRP edged higher.
Table of Contents
- Bitcoin retreats after rally toward $85,000
- Corporate outlooks weigh on technology markets
- Zcash stands apart from broader crypto declines
Bitcoin retreats after rally toward $85,000
Wednesday’s advance had carried bitcoin above $84,000, a ceiling that had stopped earlier attempts on October 13 and 14. But the move peaked near $84,800, and the price subsequently fell to around $82,600 before trading just under $82,800 on Thursday morning.
Corporate outlooks weigh on technology markets
Tesla shares fell 3% in after-hours trading after the company reduced its capital-spending forecast. Chip-equipment maker Lam Research dropped 7% following a weak outlook. Meta gained 2% after raising its AI spending plans, but the advance did not reverse the broader deterioration in sentiment.
Nasdaq 100 futures lost 1.1%, while S&P 500 futures declined 0.5%. In Asia, South Korea’s Kospi fell 2.2% as Samsung Electronics and SK Hynix retreated. China’s CSI 300 dropped 1.7%, putting it on course for a bear market.
Alibaba led Chinese e-commerce shares lower after the government called for tighter quality control. Crude oil rose as Middle East tensions flared again.
Zcash stands apart from broader crypto declines
Zcash rose nearly 3% to about $1,290, while XRP gained less than 1%. HYPE fell 3% to roughly $79.
Dogecoin declined 2% and Solana lost about 1%. Ether, BNB and TRX each slipped less than 1%.
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