Bitcoin Holds Above $84,000 as Ethereum Reclaims $2,470
Bitcoin traded at $84,186 on 22 October, up 1.39% over 24 hours after briefly touching $84,898. Ethereum rose 0.84% to $2,474, while XRP gained nearly 2% and SOL edged up 0.6%. Bitcoin remained above key moving averages, with technical indicators showing a relatively firm trend; Ethereum was still below its 20-day and 50-day averages, leaving resistance near $2,522–$2,552.
The rebound came as US equities extended gains and Bitcoin spot ETFs recorded net inflows for a second consecutive day. The Crypto Fear and Greed Index rose from 63 to 68, returning to the greed zone. Bitcoin’s near-term resistance is around $86,213 and $87,279, with support near $83,241 and $81,743. Traders will also watch upcoming US earnings, including results from Meta and Tesla, for signals on broader risk appetite.
Bullish
The near-term signal is mildly bullish: Bitcoin held above $84,000, Ethereum recovered to $2,474, US equities advanced, spot Bitcoin ETFs recorded a second day of net inflows, and the Fear and Greed Index returned to the greed zone at 68. Bitcoin’s position above its 20-, 50- and 200-day averages also suggests that buyers have maintained control of the broader technical structure. XRP’s stronger move adds to the evidence of improved risk appetite.
There are important limits to the bullish case. Bitcoin’s MACD remained bearish, even though its negative momentum was easing, and the price was approaching resistance at roughly $86,213–$87,279. Ethereum remained below its 20- and 50-day averages, with resistance around $2,522–$2,552. A failure to break these levels could prompt profit-taking or renewed range-bound trading. US earnings, particularly those from major technology companies, may also affect appetite for risk assets and spill over into crypto markets.
Similar episodes of equity strength and ETF inflows have often supported short-term crypto rebounds, but sentiment readings in the greed zone can also precede sharper volatility if inflows fade or resistance holds. In the short term, traders may watch Bitcoin’s $83,241 support and Ethereum’s ability to reclaim the $2,522–$2,552 area. Over the longer term, continued ETF inflows and sustained strength above key moving averages would improve the outlook; this article alone does not establish a durable trend reversal.