Bitcoin extends bounce above $82,000 as stocks rebound, DeFi tokens lead altcoin gains

Bitcoin rose 0.8% to approximately $82,700, aided by a rebound in Nasdaq futures and China’s GDP exceeding estimates, according to CoinDesk. The CoinDesk 80 gained 1.3% during this period, with DeFi tokens leading the gains.

Cointelegraph reports that Bitcoin began the third week of October at $82,000 as both crypto and stock markets attempt a tentative rebound following recent losses. Analysis suggests Bitcoin may retest the $80,000 support level. Market attention is expected to shift toward corporate earnings as US macro data remains light, with roughly 15% of S&P 500 companies, including Tesla, Meta, and SpaceX, scheduled to report Q3 figures.

This recovery follows a period of weakness where the S&P 500 finished a Friday down 2% for the week. Cointelegraph notes that tech stocks faced sell-side pressure due to concerns regarding AI expenditure and debt, while contagion spread from Asian markets, specifically the KOSPI Composite Index, which saw significant weekly losses.

Brief written by urgent.news from CoinDesk, Cointelegraph — 2 reports on this story. Machine-written — may contain errors; check the original before relying on it.