Bitcoin Rebounds Above $83,000 Following Steep Global Chip Rout and Liquidations

Bitcoin traded back above $83,000 after dropping below $81,000 to an intraday low near $80,948, absorbing substantial selling pressure despite ongoing headwinds across tech equities. The volatility followed a steep selloff in Asian semiconductor stocks, where South Korea's KOSPI slid up to 7.4% and closed down 5.5%. The market turbulence triggered over $800 million in leveraged cryptocurrency liquidations over 24 hours, with long positions accounting for about 85% of forced closures. In the U.S., chip stocks fell and spot Bitcoin ETFs posted $65 million in net outflows ahead of key inflation data.