[DigitalToday reporter Hyunwoo Choo (추현우)] The cryptocurrency market rebounds after averting a risk of breaking below $80,000. Bitcoin's resilience stands out.

As of 8 a.m. on Oct. 16, Coin360 shows bitcoin (BTC) at $82,331, up 0.83 percent from the previous day. Bitcoin's market share is 59.63 percent. Ether (ETH) rises 1.35 percent to $2,452, and XRP gains 0.27 percent to $1.34.

Among altcoins, Zcash (ZEC) jumps 6.89 percent to $1,224, the biggest rise. OKB falls 3.53 percent to $120.

Solana (SOL) rises 0.93 percent to $106, Hyperliquid (HYPE) gains 1.32 percent to $82, and Chainlink (LINK) adds 0.55 percent to $12. Monero (XMR) falls 1.04 percent to $555, Binance Coin (BNB) slips 0.21 percent to $728, and Dogecoin (DOGE) drops 0.98 percent to $0.08. Tron (TRX) is unchanged at $0.33.

Bitcoin at one point on Oct. 15 slid to $79,950, falling below $80,000 for the first time since mid-September. The backdrop is a sharp drop in global AI and semiconductor stocks. CNBC reports that the combined market value of the top 20 AI and semiconductor names by market capitalisation has shed more than $1 trillion over four sessions this week.

Concerns over additional rate hikes by the Federal Reserve (Fed) coincide with added pressure from a new technology announcement by China's ChangXin Memory Technologies (CXMT), raising the burden of memory competition. South Korea's KOSPI also tumbles 7 to 8 percent. As the U.S. 10-year Treasury yield falls to 5.04 percent from 5.36 percent, cryptocurrencies recoup some of their losses. Fed Chairman Kevin Warsh is set to take part in a dialogue in Bangkok at 12:30 p.m. Korea time on Oct. 16.