Bitcoin nears $82K as KOSPI jumps 6% and tech stocks rebound

what happened

Bitcoin climbed toward $82,000 on Wednesday, reaching $81,687 on Bitstamp, according to Cointelegraph. The move coincided with a 6.6% rise in South Korea's KOSPI Composite Index, which closed back above 6,000 points, a level it had not held since October 14, as tech shares recovered early-October losses.

According to CoinGlass data, bid liquidity has thickened in the $79,000 to $80,000 zone, but $82,000 remains resistance, and analysts are still unsure where the next trading range will form. In the US, the Nasdaq Composite gained 1.1% on Tuesday ahead of earnings from Microsoft, Alphabet, Amazon and Intel. Samsung reports third-quarter results on Thursday.

Mike Wilson, chief US equity strategist at Morgan Stanley, told CNBC that most of the correction is already behind us and that the market has absorbed the sell-off efficiently. CME FedWatch data showed 90.6% odds that the Federal Reserve would keep rates in the 3.75% to 4% range at its Wednesday meeting.

why it matters

The crypto rebound followed easing worries about AI spending and how it is financed through debt. Still, analyst Rekt Capital compares Bitcoin's current structure with the 2022 bear market and notes that the weekly chart has not yet broken out of a macro accumulation range between $60,000 and $80,000.

market impact

Bitcoin and crypto: tech-sector recovery supports sentiment, while resistance near $82,000 limits upside.

• ↔Bitcoin mixed — tech-sector recovery supports demand, but resistance near $82,000 and 2022 bear-market comparisons weigh

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