Bitcoin back above $81,000 as hike odds fade, Zcash leads with 15% jump
Bitcoin surged above $81,000, with Zcash leading gains, as Fed Governor Waller's comments eased concerns about interest rate hikes. Global markets, including equities and gold, also saw advances, while the yen strengthened. US spot bitcoin ETFs recorded inflows, but consistent buying remains to be seen.
Why it matters
This reflects the ongoing sensitivity of cryptocurrency markets to global monetary policy and traditional financial indicators, impacting investor sentiment and asset valuations and highlighting the interconnectedness of crypto with broader economic trends.
Fed Governor Christopher Waller gave the move its trigger, saying he would support holding rates steady if price pressures kept easing. Treasuries and gold held the gains they made in the New York session that followed.
Zcash was the standout, up nearly 15% in 24 hours and 20% on the week, extending a run that has left it well clear of the rest of the market. Hyperliquid's HYPE added about 6% and XRP nearly 6%.
Ether, BNB and dogecoin each gained between 4% and 5%, while solana rose nearly 3% and TRON managed just over 1%, the weakest of the majors. The seven-day picture is far more muted, with bitcoin up roughly 1%, ether and XRP close to flat, and solana and TRON both down nearly 3%, according to CoinDesk data.
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