Bitcoin Hits $83,300 Amid Corporate Earnings Optimism

Bitcoin reached the $83,300 mark during the opening of trading on Wall Street. The appreciation followed the positive performance of US stock exchanges after the release of third-quarter earnings reports.

Companies like General Motors and 3M exceeded analysts' profit projections. The Dow Jones index rose 1.2 percent and reached levels last seen in mid-September.

The upward movement in the crypto asset sector triggered liquidations of short positions. About $125 million was liquidated within an hour during the price surge.

Oil prices also influenced the global financial landscape. The value of WTI crude oil fell below $96 after an initial spike which reduced pressure on risk assets.

Bitcoin later retreated to the $81,400 range. The movement occurred amid declines in Asian stock markets, specifically South Korea's Kospi index, due to concerns regarding the artificial intelligence sector.