Bitcoin up 1% to $83.4k, but gains capped as risk appetite takes a hit

Investing.comb — Bitcoin rose about 1% on Tuesday but struggled to pick up momentum as risk sentiment took a hit from weakness in U.S. memory stocks and elevated oil supply disruption concerns.

The world’s largest crypto added 1% to $83,397.5 by 17:36 ET (21:36 GMT). Bitcoin had earlier in the day hit a low of $81,054.7.

Broader cryptocurrency markets also retreated, remaining under pressure from profit-taking in October after a strong performance in the third quarter.

A dearth of new regulatory developments or major buying action kept crypto prices largely subdued, despite a historic trend of outperformance in October.

Bitcoin under pressure as AI selldown drives risk aversion

Bitcoin and crypto markets were caught up in broader risk-aversion, amid a sell-off in global artificial intelligence and technology stocks that eased up during Wall Street’s regular trading session.

AI stocks were earlier battered by increasing doubts over the long-term returns from the technology, especially after a report last week showed bellwether OpenAI clocked smaller revenues so far in 2026 than initially expected.

Chipmakers were also battered by growing concerns over advancements in China that could increase supplies and bring down AI-fueled prices in the sector.

While the negative moves did not directly impact Bitcoin, it and broader crypto markets were caught up in the risk-off mood.

Bitcoin whale moves $378 mln after 6 years of dormancy

Elsewhere, a 2019 Bitcoin wallet holding thousands of the crypto moved 5,582 Bitcoin worth roughly $378 million on Monday, after six years of inactivity.

The coins were distributed between five addresses and were observed sitting in the wallets with no sales or transactions so far, onchain data showed.

Monday’s transaction comes amid a growing trend of Bitcoin whale wallets moving large amounts of crypto. Such movements usually herald sales by the holders, with the next step being to send the Bitcoin to an exchange to be sold.

Strive makes its biggest Bitcoin purchase since January

In another development, Strive, the bitcoin treasury company founded by Vivek Ramaswamy, increased its Bitcoin holdings by 3,311 BTC over the past week, bringing its total treasury to 32,773 BTC as of Oct. 9, according to regulatory filing on Tuesday.

The purchase is Strive’s largest addition to its bitcoin holdings since January, when it acquired roughly 5,048 BTC through its all-stock merger with Semler Scientific.

Crypto price today: altcoins a mixed bag 

Broader crypto prices were mixed on Tuesday, with losers outnumbering gainers.

World no.2 crypto Ether rose 0.8% to $2,510.40, while XRP climbed 1.3%.

BNB was marginally higher, while Solana dipped 0.1% and {1073899|Cardano}} shed 0.6%.