Bitcoin Pulls Back Toward $82,000 After Reaching $83,335 High Amid Wall Street Rally

Bitcoin retreated toward $82,000 after facing technical resistance near its 21-day moving average of $83,230, following an intraday surge to a peak of $83,335 on Oct. 20. The cryptocurrency initially rebounded from below $81,200 as U.S. equities gained on strong third-quarter corporate earnings and declining crude oil prices. The rapid upward movement triggered significant liquidations, wiping out $45.7 million in Bitcoin shorts and causing total exchange open interest to climb to $53.86 billion. However, analysts cautioned that the recovery remains fragile due to weak spot demand and rising leverage.