Bitcoin Rebounds Above $81,000 as Asian Chip Rally Spills Into Crypto

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Bitcoin news broke Monday as Bitcoin climbed 0.8% to $81,400 after slipping below $80,000 on Tuesday. Ether rose 0.9%, and the CoinDesk Memecoin Index gained 1.3%. A market rally in Asian chip stocks fueled broader tech gains, with South Korea’s Kospi up 6.6% and SK Hynix jumping 11% on a sevenfold profit surge.

Bitcoin BTC$84,459.46 rose around 0.8% since midnight UTC to $81,400 on Monday after dropping below $80,000 on Tuesday. The altcoin market also showed strength, with ether ETH$2,490.55 gaining 0.9% and the CoinDesk Memecoin Index advancing 1.3%.

Asian chip stocks led a rebound in AI shares. South Korea’s Kospi index jumped 6.6% as SK Hynix surged around 11% after reporting a sevenfold jump in profit. Nasdaq-100 index futures gained 0.5%.

The Federal Reserve is due to announce its decision on U.S. interest rates at 18:00 UTC, with CME’s FedWatch tool showing around a 92% chance of no change. Traders will be looking to Chair Kevin Wash’s press conference for clues on whether any increases are on the cards.

U.S. spot ETFs took in $176 million on Tuesday, a second day of inflows, while Alphabet GOOG and Microsoft MSFT report earnings after markets close.

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