Home
Cryptocurrency
Cryptocurrency News
Bitcoin Holds Near $83,000 as Tesla Keeps 11,509 BTC Holdings

Bitcoin Holds Near $83,000 as Tesla Keeps 11,509 BTC Holdings

Rising derivatives exposure leaves the crypto market vulnerable to sharp price swings despite improving investor sentiment.

Written by Rahul Dhingra, Edited by Rohan Pal | Updated: 22 October 2026 14:45 IST

Bitcoin Holds Near $83,000 as Tesla Keeps 11,509 BTC Holdings

Photo Credit: Unsplash/Kanchanara

Major cryptocurrencies show mixed price movements amid shifting market sentiment

Click Here to Add Gadgets360 As A Trusted Source

Highlights

Bitcoin derivatives open interest reaches $23.4 billion
US spot Bitcoin ETFs attract $550 million this week
The probability of a Fed rate hike remains below 17 percent

Bitcoin traded at Rs. 77.9 lakh on Thursday as cryptocurrency markets weighed improving risk appetite against renewed geopolitical tensions and rising bond yields. Ethereum (ETH) traded at Rs. 2.30 lakh, while major altcoins moved in mixed directions. Market participants said a rebound in technology stocks, supported by strong earnings from artificial intelligence-linked companies, had helped lift Bitcoin and the broader crypto market. According to CoinGecko data, Bitcoin traded at $82,100 (roughly Rs. 77.8 lakh), while Ethereum was priced at $2,400 (roughly Rs. 2.27 lakh).

The world's largest cryptocurrency fell 2 percent in the last 24 hours, according to the Gadgets 360 price tracker. Analysts said US spot Bitcoin ETFs had attracted $550 million (roughly Rs. 5,198 crore) so far this week. Tesla's decision to retain all 11,509 BTC through the third quarter also points to continued corporate exposure to Bitcoin. However, derivatives open interest has climbed to $23.4 billion (roughly Rs. 2,21,130 crore), leaving the market vulnerable to leveraged liquidations if sentiment deteriorates.

Crypto Markets Discussion

Explore More...

Major Altcoins Show Mixed Momentum on Thursday

Binance Coin (BNB) was priced around $734 (roughly Rs. 69,500), while Solana (SOL) traded near $104 (roughly Rs. 9,800). XRP hovered around $1.33 (roughly Rs. 126), while Dogecoin (DOGE) traded near $0.079 (roughly Rs. 7.5).

Malaysia Rolls Out Tokenised Bond Platform for Around-the-Clock Settlement

Technology Stocks Rally as Traders Monitor Federal Reserve Risks

Highlighting the role of improving risk appetite and institutional investment in the recent recovery, the CoinSwitch Markets Desk said, “Momentum also picked up across the broader crypto market. Institutional demand stayed firm, with US spot Bitcoin ETFs recording inflows that pointed to ongoing investor interest. Softening oil prices gave risk assets an extra lift. Looking ahead, macro conditions, ETF inflows, and overall equity market sentiment will remain the main drivers of crypto direction.”

Commenting on Bitcoin's recent pullback, corporate holdings, and derivatives market activity, Prateek Gupta, Head of Business at Mudrex, said, “Tesla's decision to retain all 11,509 BTC through Q3 also signals continued corporate exposure. However, open interest has climbed to $23.4 billion (roughly Rs. 2,21,130 crore), leaving the market vulnerable to leveraged liquidations if sentiment turns. With the probability of a Fed rate hike next week below 17 percent, the next key test is whether Bitcoin can reclaim $85,000 (roughly Rs. 80.3 lakh), while $80,000 (roughly Rs. 75.6 lakh) remains an important downside level.”

Discussing Bitcoin's price performance, ETF activity and the impact of derivatives positioning, Nischal Shetty, Founder of WazirX, said, “Bitcoin spot ETFs attracted daily net inflows of $289.8 million (roughly Rs. 2,739 crore), supporting demand. Santiment's October 21 data placed derivatives open interest at $23.4 billion (roughly Rs. 2,21,130 crore) for Bitcoin, $15.5 billion (roughly Rs. 1,46,475 crore) for Ether and $2.7 billion (roughly Rs. 25,515 crore) for Solana. Rising open interest alongside recovering prices suggests increased participation, although it does not establish market direction.”

Upbit Operator Dunamu Teams Up With MoonPay on Stablecoin Payments

Overall, analysts said stronger technology stocks, improving risk appetite, and continued institutional investment are supporting Bitcoin's recovery. However, renewed Middle East tensions, higher oil prices and rising bond yields could limit further gains, while elevated derivatives open interest increases the risk of sharp price movements. Bitcoin's ability to reclaim $85,000 (roughly Rs. 80.3 lakh) remains an important test for the recovery, with $80,000 (roughly Rs. 75.6 lakh) serving as a key downside level.

Qubic Restarts Blockchain and Opens Claims After $1.4 Million Hack

Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.

Comments

Get your daily dose of tech news, reviews, and insights, in under 80 characters on Gadgets 360 Turbo. Connect with fellow tech lovers on our Forum. Follow us on X, Facebook, WhatsApp, Threads and Google News for instant updates. Catch all the action on our YouTube channel.

Further reading: Crypto markets, Crypto Prices, BTC, ETH, crypto updates

Rahul Dhingra

Email Rahul Dhingra

Rahul Dhingra is a crypto writer at Gadgets 360, where he covers the exciting world of Cryptocurrency, Blockchain, Defi and Web3. Before joining Gadgets 360, he worked as a content specialist for a European-based Crypto Exchange. Rahul loves storytelling, not just through the written word but also through the visual medium. Beyond his professional life, Rahul is a sports fanatic. Whether it’s cricket or football, his passion for the game is contagious. More