Crypto alarm clock: Bitcoin price climbs where gold and silver fall

The Bitcoin price has risen by almost 1 percent over the past 24 hours and is trading close to the $83,000 level again. This means that the digital currency still performs extremely well under a set of conditions that are not optimal.

Still, it seems unlikely that Bitcoin will really break out in these circumstances.

The special thing is that Bitcoin (BTC) is able to record a rise today, while gold and silver are again struggling with red figures. There was a small decline in the gold price, while the silver price lost one full percent.

This is probably due to the fact that we are again seeing green figures for oil prices and bond yields in the United States on Wednesday morning.

As a result, the financial conditions have once again become stricter. This means that the price and availability of credit have not improved in the past 24 hours.

Nevertheless, Bitcoin manages to hold its own quite reasonably. That is a positive signal, and says something about the market phase in which Bitcoin is in. There is no longer a clear bear market. Only news no longer necessarily causes a deep price decline.

Furthermore, the coming weeks will be dominated by quarterly figures on Wall Street. Yesterday, for example, it was the turn of Elon Musk's SpaceX, which came up with surprisingly strong figures.

The net profit of Elon Musk's aerospace company was $4.4 billion. This number was more than twice as high as what Wall Street had entered in advance.

SpaceX also continues to invest heavily in AI. In the third quarter, it was 19.59 billion dollars. More than $5 billion more than it made in sales. That capital goes to data centers, chips and other artificial intelligence infrastructure.

After SpaceX, it is Tesla and Meta Platforms' turn today. Two more important players in the AI ​​race that can largely determine market sentiment, and thereby also steer the Bitcoin price.