Bitcoin buyers snap up a brief drop below $80,000 as Asian stocks rebound — SkimNews
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- Bitcoin rebounded 1.3% to near $82,000 after slipping below $80,000 for roughly two hours, with buyers reappearing at the ~$80,400 level that had been defended twice in the prior week.
- ZEC led major cryptocurrencies with an 8% jump to about $1,190, while SOL, ether, XRP and TRX each added roughly 1% and BNB was flat.
- Samsung Electronics and SK Hynix both climbed more than 2%, lifting South Korea's Kospi nearly 3% after its lowest close since April on Thursday.
- Taiwan Semiconductor Manufacturing slipped despite an upbeat outlook, as lingering concerns over AI spending kept investors cautious.
- Treasuries handed back Thursday's safety bid, with the 10-year yield up a basis point to 5.07% ahead of Fed Chair Kevin Warsh's remarks at the IMF and World Bank meetings in Bangkok.
- Bitcoin faces a near-term test at $84,000, the level where Wednesday's post-inflation spike stalled, which would confirm genuine buyer conviction behind the rebound.
- September inflation came in hotter than expected two days earlier, a key data point traders are weighing as they position for Warsh's Friday comments.
Why it matters: The two-hour breach below $80,000 — a level widely watched as the line between bull and bear posture — failed to find follow-through, suggesting buyers are still treating any dip as an entry. With the 10-year yield at 5.07% and inflation running hot, Friday's Warsh remarks in Bangkok could reset rate-cut expectations and determine whether the $84,000 ceiling breaks.
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