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Bitcoin rose above $81,000 as traders cut September Federal Reserve rate-hike bets to roughly a coin flip. Major tokens gained on Friday, while Zcash led with a 15% jump despite limited weekly changes.
Bitcoin rose back above $77,500 as XRP led major tokens. All major cryptocurrencies gained over 24 hours, while only zcash and hyperliquid remained higher on the week. Fed hike odds fell to 62%.
Zcash has climbed roughly 19-fold in a year, while Grayscale says its market cap remains below 1% of Bitcoin’s. The firm sees potential for ZEC to challenge Bitcoin’s network effects as privacy demand grows.
Grayscale has launched a Zcash ETF, giving brokerage investors exposure to ZEC. The fund reflects the asset manager’s bet on demand for cryptocurrencies beyond Bitcoin and Ethereum after a critical privacy flaw affected Zcash.
Bitcoin rose 2% to $96,750, while Ethereum and several altcoins advanced. Market developments included a delayed Senate crypto bill, Ripple’s Luxembourg license, FTX’s next creditor payment date and Sui’s recovery from a nearly six-hour outage.
Bitcoin, Ethereum, Solana and XRP rose, while Monero reached a new all-time high at $680. Regulatory developments included a draft U.S. crypto market bill, scrutiny of crypto in 401(k) plans and Tennessee action against sports prediction markets.
Bitcoin held above $90,000 as Zcash and Polygon gained 11%. Analysts saw signs of improving crypto-market conditions, while Florida revived its Bitcoin reserve proposal and Trump ruled out pardoning FTX founder Sam Bankman-Fried.
Bitcoin fell below $90,000 as major cryptocurrencies weakened, while Zcash plunged 19% after its developer team resigned following a board dispute. JPMorgan, Barclays, Wyoming and World Liberty Financial also advanced separate digital-asset initiatives.
