Bitcoin briefly touched $83,000 intraday Tuesday as U.S. equities rebounded, reversing earlier losses. The asset traded at $82,500 after a 0.7 percent 24-hour gain, fluctuating between $82,705 and its session high before retreating to $82,300 by afternoon.
Ether, Solana and XRP each climbed more than one percent, tracking broader market sentiment. The moves follow last week's sharp pullback that hit crypto stocks hard.
Crypto-focused equities posted gains across the board early Tuesday. Coinbase climbed 1.7 percent to $171.46, while Robinhood rose 2.3 percent to $98.40. MicroStrategy led the pack with a 6.3 percent jump to $144.30. Circle, the USDC issuer, surged 5.3 percent to $86.23. Bullish gained 5.7 percent to $28.96, MARA Holdings rose 0.375 percent to $7.58 and Securitize posted a 3.9 percent gain.
The broader equity backdrop turned positive after an uncertain open. The Nasdaq Composite, which opened down nearly one percent, gained 0.6 percent. The S&P 500 rose 0.4 percent. Treasury yields fell, with the 10-year dropping 3.7 basis points to 5.10 percent, easing pressure on risk assets.
WTI crude swung wildly throughout the session. The benchmark jumped above $101 per barrel overnight, then fell $3 on reports of progress in Iran peace talks. Qatar and Pakistan reportedly presented a proposal to end the conflict, receiving preliminary approval from both the U.S. and Iran. WTI recouped $2 of the loss before settling near $98.15 by early afternoon.
U.S. Treasury Secretary Scott Bessent said Tuesday morning that economic pressure on Iran is intensifying, with the country's currency collapsing and panic spreading. He warned Iran's economy "will go non-linear at some point" while characterizing U.S. economic performance as solid aside from energy price volatility.
U.S. housing data showed weakness. Pending home sales tumbled 7.3 percent in September, far worse than the 0.5 percent decline expected. The year-over-year drop hit 11.3 percent, marking the weakest reading in the gauge's 25-year history. Lawrence Yun of the National Association of Realtors said mortgage rate spikes drove the decline, noting that rate changes matter more than job growth or income gains to housing affordability. The data follows reports of steep drops in new home sales and builder confidence slumping to a 14-year low.
