Update
Bitcoin Hovers Around $83,000 as Tech Stocks Rise
Bitcoin rose 1.3% to just above $82,700 on Wednesday, hovering around $83,000. Tech stocks across Asia, including SpaceX and Super Micro Computer, saw strong earnings, leading to a rise in the AI trade and tech stocks. ZEC led the majors, jumping 11% to about $1,260, following the mainnet activation height for Zcash's next upgrade, NU7. The market followed suit with HYPE and DOGE each gaining more than 3%, XRP adding nearly 3% to $1.33, and ether rising 2% to about $2,450. Asian indices also saw gains, with the Kospi in South Korea rising 3.7% and the Taiex in Taiwan gaining 1.4%. The dollar firmed slightly, and Treasuries gave back some of Tuesday’s gains. Analysts suggest the worst of bitcoin’s slide may be close, with short-term holders now owning just 16% of bitcoin’s supply.