Bitcoin price steadies around $82K after Fed’s Warsh avoids rate-hike hints

Bitcoin (BTC) traded near $82,000 around Friday’s Wall Street open as crypto markets stabilized alongside a rebound in South Korean stocks.

Key points:

• Bitcoin price volatility eased as South Korean stocks rebounded 2% on Friday, offering relief after a steep sell-off.
• Federal Reserve Chair Kevin Warsh gave no indication of further interest-rate hikes during a public discussion, as traders lowered the odds of a 25-basis-point increase in October to 15%.
• Analysts warned of difficult choices for Washington as the 10-year US Treasury yield climbed back to 5.13% and US stocks traded in a narrow range.

Traders see dovish edge to Warsh comments

Data from TradingView showed BTC/USD holding most of its reclaimed ground after bouncing at $80,000 on Thursday.

BTC/USD four-hour chart. Source: Cointelegraph/TradingView

The earlier decline followed a weeklong sell-off in South Korean tech stocks, although Friday’s Asian trading session brought some relief. The KOSPI Composite Index closed at 5,668, up 2% on the day but still down 8.3% for the week.

KOSPI Composite Index one-day chart. Source: Cointelegraph/TradingView

US stocks largely avoided the sell-off in Asian markets but were mixed on Friday, with the tech-heavy Nasdaq Composite Index down 0.5% and the S&P 500 up 0.5%.