Tesla and Meta reported mixed third-quarter results as Bitcoin traders weighed renewed demand, a buildup in futures positions and resistance near $87,000. Tesla kept its 11,509 Bitcoin holdings, worth roughly $1 billion, at a price above $84,000. Meanwhile, Meta beat revenue forecasts but fell short on earnings per share.
Separate market reports showed buyers defending Bitcoin between $81,724 and $83,470, while options data pointed to heavy positioning ahead of October 30.
Tesla and Meta Report Split Earnings Results
Tesla recorded third-quarter revenue of $28.05 billion, below analysts' $28.13 billion forecast. Still, its earnings per share reached $0.48, above the expected $0.44. Automotive revenue totaled $20.56 billion, surpassing estimates of $19.83 billion.
The automaker also generated $1.53 billion in free cash flow, compared with forecasts for negative $4.99 billion. Tesla made no change to its reported Bitcoin holdings of 11,509 coins. Its shares gained 1.5% in after-hours trading.
Meta, meanwhile, posted $64.6 billion in quarterly revenue, a 26% increase from a year earlier. The result topped expectations of $63.33 billion. Yet earnings per share of $3.83 missed the projected $5.89.
The company raised the lower end of its annual capital spending outlook to $135 billion from $130 billion. Its upper estimate stayed at $145 billion. Meta projected fourth-quarter revenue of $73 billion to $76 billion, against a $73.7 billion forecast. It also established non-voting shares to raise capital without reducing Mark Zuckerberg's controlling stake. Its stock advanced 3.2% after hours.
Bitcoin Traders Watch $87,000 Resistance
A Wednesday Bitfinex report described repeated failures to push Bitcoin below its recent range. Buyers stepped in during declines around $81,724 to $83,470. By October 20, futures open interest had risen 4.2% from its October 12 low, reaching 645,410 BTC.
Funding rates reached annualized levels of 7% to 9% during peak sessions. Those readings indicated a modest preference for leveraged long positions. At the same time, Friday's options expiry carried $1.23 billion in notional open interest, with maximum pain near $82,000.
October 30 options held $11.2 billion in notional open interest. Bitfinex placed the implied one-standard-deviation range between $78,300 and $87,100. That range reflected options pricing rather than a guaranteed trading boundary. October 30 held $9.97 billion more in notional open interest than Friday's expiry, based on the two figures reported.
Glassnode identified liquidation clusters near $85,000 and $87,000. The firm said a rise toward $87,000 could trigger short liquidations, although nearby sell orders could limit the advance.
Read More: US Stock Futures Rise as SpaceX Earnings Boost Nasdaq Ahead of Tesla, Meta Results
ETF Inflows and MSCI Decision Remain in Focus
Glassnode also reported that realized profits ran at about half the pace recorded during September's market peak. Selling by holders who bought Bitcoin one to two years earlier had dropped below one-third of its early October daily level.
According to Glassnode, a daily close above $86,700 would put buyers from six to 12 months earlier back into profit on average. Such a close would also clear the nearest supply band identified in its analysis.
Meanwhile, US spot Bitcoin ETFs attracted $526 million on Monday, their largest daily inflow since September 22. Weekly flows turned positive, although trading volumes remained subdued. Glassnode said repeated inflows accompanied by rising volume would provide broader evidence of demand.
Another pending event involves MSCI's November 11 list of companies affected by proposed index rules for non-operating businesses. Its preliminary assessment identified Strategy as potentially affected. Removal could force index-tracking funds to sell its shares. MSCI had proposed excluding companies whose digital assets made up at least half their assets in October 2025 but delayed immediate exclusion in January.
Conclusion:
Tesla kept its 11,509 Bitcoin while quarterly revenue missed forecasts and earnings topped estimates. Meta also posted mixed results and raised its capital spending outlook. Bitcoin traders face sell orders near $87,000 despite renewed ETF inflows and increased futures positions. MSCI's November decision adds another event for Strategy investors.