Bitcoin has rebounded above $81,000, climbing back after dropping below $80,000 a day earlier, as a rally in Asian chip stocks spilled over into crypto markets. The move came ahead of a US Federal Reserve decision, with traders watching both equities and digital assets for direction.
Bitcoin (Credits: CoinDesk)
Bitcoin Rebounds Above $81,000 As Asian Chip Rally Spills Into Crypto
According to CoinDesk, Bitcoin rose around 0.8% since midnight UTC to $81,400 on Monday, recovering from Tuesday’s dip below $80,000. The gain tracked a strong session in Asia, where South Korea’s Kospi index jumped 6.6% and Nasdaq-100 futures added 0.5%. Chipmaker SK Hynix surged around 11% after reporting a sevenfold jump in profit, helping lead a broader rebound in AI-linked shares.
The wider crypto market also showed strength. Ether gained 0.9% to $2,490.55, and the CoinDesk Memecoin Index advanced 1.3%, CoinDesk reported. US spot Bitcoin ETFs took in $176 million on Tuesday, a second consecutive day of inflows, according to Farside Investors data cited by CoinDesk.
Pepe Jumps 9% As Memecoins Lead Altcoin Gains
The standout mover was frog-themed memecoin Pepe, which advanced 9.4%. CoinDesk attributed the jump to a report from Arkham Intelligence saying wallets it links to Tron founder Justin Sun hold around $51 million of the token.
The rebound shows how closely crypto continues to track risk appetite in tech and AI stocks, with Asian chip earnings setting the tone for the session. With the Fed decision still ahead, traders will be watching whether the recovery holds or fades — but for now, Bitcoin has its footing back above $81,000.
Also Read: Bitcoin Has Soared 53.7% on Average After Midterms While the S&P 500 Gained 15.17%
Source: CoinDesk — read the full story there.