Bitcoin spent about two hours below $80,000, and after buyers returned and prices recovered, attention turned to the $84,000 threshold.
According to data reported by CoinDesk, Bitcoin rose 1.3% to approach $82,000 during Asian trading on Friday. The price, which fell to about $79,800 on Thursday, had also slipped below the $80,400 level that buyers defended twice the previous week.
Buyers stepped in again at this level, lifting the price to near $82,500 within two hours. Bitcoin then remained above $81,000 throughout Asian trading.
$84,000 in focus as Bitcoin recovery strength is tested
The rally following Wednesday’s inflation data stalled around $84,000. According to the article’s analysis, breaking above this level again could indicate that the latest recovery has strong buyer support. This makes the area the next price threshold to watch after the brief rebound from the low.
Zcash stands out among altcoins
Among major cryptocurrencies, Zcash (ZEC) rose 8% to about $1,190. Solana (SOL), Ethereum (ETH), XRP, and TRX each gained about 1%, while BNB traded flat.
Asian stocks also saw buying after the previous day’s sell-off. The MSCI Asia Pacific Index rose 1.3%, while shares of Samsung Electronics and SK Hynix gained more than 2%. South Korea’s Kospi Index, which closed Thursday at its lowest level since April, recovered about 3%.
Shares of Taiwan Semiconductor Manufacturing (TSMC) diverged from the broader trend, falling amid concerns about AI spending despite the company’s positive outlook.
U.S. Treasury prices fell, pushing the 10-year yield to 5.07%. Following September inflation that exceeded expectations, markets turned their attention to remarks by Fed Chair Kevin Warsh on Friday at the IMF and World Bank meetings in Bangkok.
Not investment advice.