Bitcoin climbed back above $83,000 on Tuesday, shaking off an early drop as a sharp selloff in Asian chip stocks and U.S. tech futures weighed on risk appetite.
The largest cryptocurrency by market value fell to just under $81,000 at 00:50 UTC before recovering above $83,000, according to CoinDesk data. Ether bounced from five-day lows, while XRP (XRP) turned higher after touching three-week lows. Zcash (ZEC), solana (SOL) and several other major tokens followed a similar pattern.
Asian tech rout
The early crypto weakness came as South Korea’s KOSPI plunged more than 6% intraday, falling below 6,000 and hitting its lowest level since late July. The index remained down roughly 6% in morning trade.
Chipmakers led the rout. Samsung Electronics and SK Hynix each fell roughly 8%, extending their losing streaks to five sessions. Investors were rattled by concerns over AI-related valuations and rising competition…
