Bitcoin Buyers Defend $80K as Asian Stock Markets Rebound

Bitcoin rebounded to approximately $82,500 within two hours of briefly falling below $80,000, while South Korean chipmakers recovered from their steepest closing decline since April.

The largest cryptocurrency gained 1.3% to trade near $82,000 during Friday’s Asian session after buyers moved in to support prices below the $80,000 threshold. Asian semiconductor stocks also recovered following Thursday’s sharp sell-off.

Among major cryptocurrencies, Zcash (ZEC) led the recovery, rising 8% to approximately $1,190. Solana, Ether, XRP and Tron each advanced around 1%, while BNB remained largely unchanged, according to CoinDesk data.

Bitcoin’s move below $80,000 proved short-lived, lasting roughly two hours. Thursday’s decline pushed BTC to around $79,800, breaking below the $80,400 support level that buyers had defended twice during the previous week. Buyers stepped in again near the lower level, helping Bitcoin climb back toward $82,500 within two hours. The cryptocurrency then maintained prices above $81,000 throughout Asian trading.

Equity investors also bought into the market after Thursday’s losses. MSCI’s Asia-Pacific share index advanced 1.3%, with approximately three stocks gaining for every one that declined. Samsung Electronics and SK Hynix both rose more than 2%, while South Korea’s Kospi surged nearly 3% after Thursday’s close marked its lowest level since April.

Taiwan Semiconductor Manufacturing Company moved in the opposite direction, slipping despite issuing a positive outlook. Concerns about the sustainability of spending on artificial intelligence infrastructure continued to weigh on sentiment.

Bond markets also reversed part of Thursday’s flight to safety. U.S. Treasury prices declined across maturities, pushing the 10-year yield up one basis point to 5.07%. Investors are now watching Federal Reserve Chair Kevin Warsh, who is scheduled to speak at the IMF and World Bank meetings in Bangkok on Friday. His appearance comes two days after September inflation figures came in hotter than expected.

For Bitcoin, a move back above $84,000 would be an important signal for the recovery. That level marked the point where Wednesday’s rally following the inflation report lost momentum. A sustained break above it would suggest that buying demand is strong enough to extend the rebound.