Bitcoin buyers briefly fell below $80,000 as Asian stocks bounced back.

Bitcoin bounced back to $82,500 within two hours of falling below $80,000, as chipmakers in Seoul recovered from their worst close since last April.

Bitcoin rallied 1.3 percent to near $82,000 after briefly dipping below $80,000, while ZEC led the major cryptocurrencies with an 8 percent gain.

Asian stocks also recovered, led by a rise in South Korea's chip output, although Taiwan's semiconductor output fell amid concerns over artificial intelligence costs.

Traders are looking to see if Bitcoin can break above $84,000 and await comments from Federal Reserve Chairman Kevin Warsh after hotter-than-expected inflation data.

Bitcoin rallied 1.3 percent to near $82,000 in the early hours of Friday morning in Asia after buyers briefly fell below $80,000, as Asian chip stocks bounced back from Thursday's slide.

ZEC was the standout among the majors, jumping 8% to around $1,190. According to CoinDesk data, SOL, Ether, XRP, and TRX each added about 1%, while BNB was nowhere to be found.

Bitcoin's break below $80,000 took all of two hours. Thursday's decline pushed the price to around $79,800, breaking through the $80,400 low that buyers defended twice last week and reappeared there. Bitcoin bounced back near $82,500 in two hours and remained above $81,000 through Asian trade.

Stock traders also bought the decline. MSCI's broadest index of Asia-Pacific shares rose 1.3 percent, gaining roughly three shares for every decline. Samsung Electronics and SK Hynix both rose more than 2 percent, and South Korea's Kospi jumped nearly 3 percent after closing at its lowest since April on Thursday.

Taiwan's semiconductor manufacturing came out flat, even after an upbeat outlook, due to concerns over AI costs.