Bitcoin maintained a price level near $83,000 on September 28, following a 1.7% decline. This performance remains above the mid-August lows of $75,000 to $77,000. Market analysts attribute this stability to institutional infrastructure, including spot ETFs and corporate treasury allocations.
Conversely, Zcash experienced a 12% drop in a single session. The token fell from approximately $1,592 to a low of $1,551, triggering futures liquidations exceeding $1 million. Earlier in September, Zcash had reached an all-time high above $1,485, with some intraday prints reaching $1,680.
Macroeconomic factors continue to influence market movements. Brent crude prices rose above $100 per barrel, marking a gain of over 3% amid geopolitical tensions. Additionally, the Federal Reserve increased its target interest rate by 25 basis points to a range of 3.75% to 4% on September 16.
Fundamental developments for Zcash include Paradigm positioning the asset as a private complement to Bitcoin and Grayscale launching a spot Zcash ETF. Despite these institutional offerings, the privacy-focused coin faced significant selling pressure during the recent market session.
