Bitcoin rebounds above $81,000 as Asian chip rally spills into crypto, pepe jumps 9% — SkimNews
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- Bitcoin rose 0.8% to $81,400, rebounding from a drop below $80,000, as U.S. spot bitcoin ETFs recorded a second day of inflows totaling $176 million.
- Pepe jumped 9.4% after Arkham Intelligence reported that wallets linked to Tron founder Justin Sun hold approximately $51 million of the memecoin.
- Asian chip stocks led the rally, with South Korea's KOSPI index surging 6.6% and SK Hynix shares rising 11% after reporting a sevenfold jump in profit.
- Derivatives data showed a 38% jump in crypto liquidations to $183.6 million, with Bitcoin and Ethereum accounting for over half of that total.
- Traders are focused on the Federal Reserve's upcoming interest rate decision, with markets pricing in a 92% chance of no change.
Why it matters: The correlation between a semiconductor stock rally and crypto gains suggests a renewed risk-on sentiment among traders, despite looming Fed policy uncertainty. The significant inflows into spot Bitcoin ETFs indicate institutional interest is returning, providing a potential floor for prices.
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