Bitcoin climbed back above $81,000 as a sharp rise in Asian semiconductor shares helped improve sentiment across risk assets, while traders awaited the Federal Reserve’s latest interest-rate decision. Pepe also outperformed after blockchain intelligence firm Arkham linked wallets holding about $51 million of the memecoin to Tron founder Justin Sun.
Bitcoin and broader market rebound
Bitcoin rose about 0.8% from midnight UTC to around $81,400 after previously falling below $80,000, according to CoinDesk. Ether gained 0.9%, while the CoinDesk Memecoin Index advanced 1.3%.
The crypto recovery came alongside a strong move in Asian technology stocks. South Korea’s Kospi index jumped 6.6%, while SK Hynix shares rose by roughly 11% after the memory-chip maker reported a sevenfold increase in profit. Nasdaq-100 futures were up 0.5%, pointing to a firmer tone for U.S. technology stocks before the cash market opened.
The connection between chip stocks and cryptocurrencies reflects the broader mood in markets rather than a direct link between semiconductor companies and digital assets. When investors become more willing to hold riskier assets, technology shares and cryptocurrencies can sometimes move higher together. However, the two markets remain distinct and can respond differently to company results, interest rates and other news.
U.S. spot bitcoin exchange-traded funds recorded $176 million of net inflows on Tuesday, their second consecutive day of inflows, according to Farside Investors. Spot ETFs hold bitcoin directly and allow investors to gain exposure through a conventional market-listed product.
Fed decision puts rates back in focus
The Federal Reserve was scheduled to announce its U.S. interest-rate decision at 18:00 UTC. CME’s FedWatch tool indicated that markets were assigning about a 92% probability to no change in rates.
Investors were also expected to focus on the press conference by Fed Chair Kevin Wash for indications about the future path of policy, including whether interest-rate increases could be considered. Higher rates can weigh on assets viewed as sensitive to liquidity and risk appetite, while a less restrictive outlook can support those markets. The source material does not indicate the outcome of the meeting.
Corporate earnings were another near-term focus, with Alphabet and Microsoft due to report after the market close. Both companies are major technology names, making their results relevant to the market’s continuing assessment of artificial-intelligence investment and the broader technology rally.
Leverage rises, but not as quickly as prices
Crypto futures trading volume increased 7.5% over 24 hours to $163.2 billion, while open interest rose only 1.3%. Open interest measures the value of outstanding derivatives positions. The combination suggested that trading activity increased more rapidly than the amount of new exposure being added.
Liquidations rose 38% to $183.6 million. Long and short taker activity was almost evenly divided, at 50.7% and 49.3%, respectively.
Bitcoin gained 2.3% in the derivatives data while its open interest slipped 0.1%. Ether rose 2.7% and its open interest increased 1.7%, still less than the move in its price. Funding rates remained positive but modest, at 0.0090% for bitcoin and 0.0079% for ether, close to the 0.01% baseline cited in the report.
Bitcoin and ether recorded the largest liquidations, at $56.4 million and $46.0 million. Zcash showed a different pattern: its open interest rose 14% as its price gained 6.3%, the clearest sign of new capital entering a larger cryptocurrency in the data. Its funding rate was 0.0076%, while liquidations reached $8.6 million, the highest among altcoins.
Options markets also showed a change in positioning. On Deribit, bitcoin’s one-week put-call skew fell below 1% from almost 10% a week earlier, indicating reduced demand for puts used as downside protection. Longer-dated one-, three- and six-month skews continued to show a strong preference for puts. The most-traded bitcoin option over the previous 24 hours was a $65,000 put expiring on Oct. 30; for ether, it was a $3,400 call expiring on Oct. 29.
Pepe jumps on reported Sun-linked holdings
Pepe, an Ethereum-based frog-themed memecoin, rose 9.4% and led the CoinDesk 100 Index. The move followed a report from Arkham Intelligence that wallets it identifies as linked to Justin Sun held about $51 million of PEPE, making him the largest holder outside exchanges, according to the report.
Other memecoins also advanced, with Floki up 3.4% and dogecoin gaining 1.9%. The CoinMarketCap “Altcoin Season” index rose to 60 out of 100 from 57 the previous day.
The rebound was not shared equally across crypto sectors. AI-linked tokens fell despite the strength in AI-related equities: Venice declined 8.2%, Grass dropped 3.3% and Kite lost 2.4%. The CoinDesk DeFi Index rose only 0.6%, trailing the 0.9% gain in the CoinDesk 80.
Moneyiar market picture
Moneyiar data at 2026-10-25 22:39 +03:30 showed bitcoin at $80,430.51, down 0.08% over 24 hours and 1.32% over seven days. Pepe stood at $0.0000043274, down 3.97% in 24 hours but up 8.92% over seven days.
USD.AI, identified by the symbol CHIP, was priced at $0.0443846724, down 0.29% over 24 hours and up 9.36% over seven days. Oasis, or ROSE, traded at $0.0067490908, down 1.98% over 24 hours and 6.8% over seven days.
