Zcash leads crypto majors with a 10% gain as bitcoin holds near $87,000
Falling oil eased inflation worries through the Asian session, while a bill to make the government’s bitcoin stockpile permanent moved further through Congress than any before it.
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Summary
- Zcash rose 10% to more than $1,616, leading gains among major cryptocurrencies, while Bitcoin held near $86,900 and most large tokens advanced.
- Analysts attributed the upbeat market tone to House committee approval of a bill that would create a Strategic Bitcoin Reserve and an SEC exemption allowing onchain trading of tokenized U.S. stocks.
- Bonds rallied as oil prices extended their decline, while the yen weakened after the Bank of Japan’s divided rate increase signaled a gradual path toward tighter monetary policy.
