Bitcoin Climbs Toward $85,000 on SpaceX Earnings and Spot ETF Inflows

Bitcoin advanced toward $85,000 on Wednesday, reaching an intraday high of $84,588 after gaining up to 2% in 24 hours. The rally followed strong third-quarter results from SpaceX, which reported revenue of about $14.6 billion—up 161% year-over-year—and revealed it holds 18,712 BTC valued at $1.57 billion. Sentiment was further bolstered by falling Treasury yields, which dropped 3 basis points, and more than $549 million in net inflows into U.S. spot Bitcoin ETFs across Monday and Tuesday. Despite the gains, Bitcoin remains approximately 30% below its October 2025 record high of $126,080.