Bitcoin rebounds above $81,000 as Asian chip rally spills into crypto, pepe jumps 9%

Bitcoin BTC $84,459.46 rose around 0.8% since midnight UTC to $81,400 on Monday after dropping below $80,000 on Tuesday. The altcoin market also showed strength, with ether ETH $2,490.55 gaining 0.9% and the CoinDesk Memecoin Index advancing 1.3%.

Asian chip stocks led a rebound in AI shares. South Korea’s Kospi index jumped 6.6% as SK Hynix surged around 11% after reporting a sevenfold jump in profit. Nasdaq-100 index futures gained 0.5%.

The Federal Reserve is due to announce its decision on U.S. interest rates at 18:00 UTC, with CME’s FedWatch tool showing around a 92% chance of no change. Traders will be looking to Chair Kevin Wash’s press conference for clues on whether any increases are on the cards.