Crypto Market Recap Oct 13: Bitcoin Back Over $83,000 USD, All of It Before Dawn
Bitcoin (BTC) was trading at $83,463 USD ($118,662 CAD) as of 6:47 p.m. ET Tuesday, up 2.08% in US dollars and 1.63% in Canadian dollars. That is a live snapshot, not a close, since Bitcoin trades continuously and never settles for the day. Ethereum (ETH) was at $2,510 USD ($3,569 CAD), up 2.67% in US dollars and 2.23% in Canadian dollars.
The headline number is real. It is also a poor description of Tuesday. Nearly all of it happened before most of North America was awake, and the business day that followed did almost nothing.
Where the gain actually happened
The 2.08% figure is measured against the UTC trading day, the boundary Yahoo Finance uses for Bitcoin’s daily percentage. That day opened at 8 p.m. ET on Monday, October 12, and it is still running as of this snapshot. The day before it closed at $81,762.56 USD, which is the level the 2.08% is measured from.
Split that day in two at 9 a.m. ET and the halves are not close. By the 9 a.m. reading Bitcoin was at $83,257.29 USD, already up 1.83% on the prior close. The ten hours of North American daylight that followed took it to $83,391.47 USD by 7 p.m., a further 0.16%. Those two legs are hourly closes, which is the basis the charts below use; the live snapshot in the first paragraph is a later and separate reading.
Almost all of the work happened in a seven-hour stretch overnight. Bitcoin’s lowest hourly close of the day came at 9 p.m. ET Monday, at $81,338.52 USD, and its highest came at 4 a.m. ET Tuesday, at $83,765.72 USD, a climb of 2.98%. Nothing since has got back to that 4 a.m. figure.
What came before it is the other half of the story. The selling was North American too. Bitcoin fell from the 5 p.m. ET Monday reading of $82,985.48 USD to that 9 p.m. low, down 1.98% in four hours, closing out a UTC day that lost 2.29% in all. So the overnight climb is substantially a recovery of a late-Monday flush, which is a different thing from a fresh advance.
Through the North American day the tape went quiet. The eleven hourly closes from 9 a.m. to 7 p.m. ET ran from $83,001.04 USD at 2 p.m. to $83,461.97 USD at 6 p.m., the whole stretch inside a range of 0.56%.
The shaded stretch is 9 p.m. ET Monday to 9 a.m. ET Tuesday. Source: bestcanadianstocks.ca chart from Yahoo Finance hourly closes, and our arithmetic on them.
Ethereum ran the same shape, harder. The hourly readings show Ethereum at $2,418.52 USD at 9 p.m. ET Monday, rising to $2,531.41 USD by 3 a.m. ET Tuesday, a gain of 4.67%. Both assets bottomed in the same hour. Through the North American business day, Ethereum moved from $2,502.09 USD at 9 a.m. ET to $2,508.71 USD at 7 p.m. ET, a gain of 0.26%.
Source: bestcanadianstocks.ca chart from Yahoo Finance hourly closes, indexed by us.
A quoted daily percentage is only as meaningful as the anchor it is measured against, and that is especially true for an asset that has no session close to anchor it the way a stock does. Our guide on how to read a stock quote walks through what a close, an open and a day’s range actually mean on an asset that does stop trading. Bitcoin has none of those reference points in the same sense, which is exactly why a 2.08% day figure and a 0.16% business-day figure can both be true at once.
The yield that came too late to explain it
Tuesday was the first US bond session since Friday, October 9. The bond market was shut Monday for Columbus Day, which falls on SIFMA’s recommended holiday schedule. The US 10-year Treasury yield eased 3 basis points, from 5.24% on October 9 to 5.21% on Tuesday, on the US Treasury’s daily par yield curve rates. The rest of the curve moved the same way: the 2-year eased 1 basis point to 4.79%, the 5-year eased 2 basis points to 5.00%, the 20-year eased 5 basis points to 5.60%, and the 30-year eased 4 basis points to 5.56%. The long end eased the most.
That yield move is the macro fact a reader would reach for to explain Bitcoin’s gain. It cannot be the explanation. Bitcoin’s highest hourly close of the day was set at 4 a.m. ET, hours before Tuesday’s bond session opened, and it has not been back there since. Across the hours in which the 10-year actually eased, Bitcoin moved 0.16%.
We tested this exact relationship this morning, in our study of Bitcoin against the 10-year Treasury yield. Grouping rising-yield runs into distinct episodes, rather than counting overlapping windows, left 17 of them, 16 with a completed 90-day outcome. Those 16 split eight up and eight down, with a median move of -1.1%. Today is a small live illustration of the same point: the yield move and the price move happened in the same 24 hours, and the hours line up badly.
That study quoted Bitcoin at $83,503 USD at 6:05 a.m. ET. Nearly thirteen hours later it is $83,463 USD, a shade lower than when we wrote about it, and still a 2.08% gain on the day.
No scheduled release sits behind any of this. Our market calendar is empty for both October 12 and October 13, so the turn at 9 p.m. ET was not a reaction to a print.
In Canadian dollars
Bitcoin’s 2.08% gain in US dollars arrives as 1.63% in Canadian dollars, and the gap is the currency. The Bank of Canada’s daily exchange rate for the US dollar, series FXUSDCAD, was 1.4222 on October 13, against 1.4271 on October 9 (there is no October 12 observation, because of Thanksgiving). That means the US dollar fell 0.34% against the Canadian dollar, not that the loonie fell.
For a Canadian holder, that is most of the 0.45 percentage point difference between the two returns above. A stronger loonie quietly takes back part of a gain on anything priced in US dollars, and gives part of a loss back on the way down. It is the ordinary cost of holding a US-dollar asset from Canada, and it applies to Bitcoin exactly as it applies to a US stock.
The tape around it
The S&P/TSX Composite closed at 35,983.98, up 0.90%. Energy did the work, the strongest of the eight TSX sectors we track on the day at up 3.88%, with WTI crude at $94.70 on the November contract, up 1.02% (NYMEX WTI settlement-window price from Yahoo Finance trade data). The S&P 500 closed at 7,805.45, down 0.02%, and the Nasdaq closed at 27,204.38, down 0.15%. These are session closes, unlike the crypto figures above.
The split between an overnight move and a quiet daylight session is more than a curiosity for anyone who owns Bitcoin exposure through a listed stock rather than the coin. Our roundup of Canadian crypto stocks ranked on Bitcoin per share covers those proxies, and they trade in sessions with an opening and a closing bell. The Toronto Stock Exchange was shut for the whole of the 9 p.m. to 4 a.m. ET stretch that did the work here. A holder of the coin lived through that stretch in real time and could act in it. A holder of a listed proxy met it as a gap at the next open, which is a materially different thing to own.
Disclaimer: The content on bestcanadianstocks.ca is for informational and entertainment purposes only and does not constitute financial advice. Past performance is not indicative of future results. Always consult a qualified financial advisor before making investment decisions. Bitcoin and Ethereum prices in US and Canadian dollars are a single live snapshot taken at 6:47 p.m. ET on October 13, 2026, from Yahoo Finance’s BTC-USD, BTC-CAD, ETH-USD and ETH-CAD series. The Canadian-dollar figures are those series’ own readings, not the US-dollar figure converted at a separate rate. Crypto trades continuously, so a snapshot is not a close. The hourly decomposition and both charts run on Yahoo Finance hourly closes for BTC-USD and ETH-USD, and on our arithmetic over them. Yahoo stamps an hourly bar at the hour it opens; every time in this article names the hour the bar closes. Days are UTC calendar days, the boundary the daily percentage is measured against, and that day opens at 8 p.m. ET. Yields are from the US Treasury daily par yield curve rates. The exchange rate is the Bank of Canada daily rate, series FXUSDCAD. Index, sector and crude figures are closes for the October 13, 2026 session; sectors are measured with iShares TSX sector ETFs as proxies.
