- BTC reclaims $80,000. Bitcoin traded around $80,484 in Asian hours Thursday, up 5.7% over 24 hours, after briefly falling toward $75,700 early Wednesday, CoinDesk reported, citing CoinGecko data.
- Altcoins followed, led by Zcash. Ether rose 8% to about $2,425, XRP gained 4.7% to $1.31, solana climbed 5.9% to $96, BNB added 4.2% to roughly $715, and Zcash jumped 11.7% to about $1,318 on $1.2 billion of volume.
- Macro peace trade helped. BTSE COO Jeff Mei told CoinDesk bitcoin rebounded with stocks as markets bet the Iran conflict and high oil prices are more likely to end; Brent’s Wednesday slide and a 1.6% S&P 500 gain underscored that cross-asset move.
- Policy hopes dim even as prices rise. Mei cautioned the CLARITY market-structure bill is unlikely to pass in its current form and that rate cuts remain unlikely — a reminder that the rebound is macro-driven more than Washington-driven.
What Happened?
Crypto’s V-shaped bounce from the midterm scare shows beta to risk assets and oil-peace hopes still dominate near-term price action, even as Democratic control clouds U.S. market-structure legislation. Holding $80,000 after a $75,700 low reframes Wednesday’s flush as a liquidity event rather than a structural break.
Why It Matters?
Zcash’s outperformance ahead of its NU7 upgrade adds a network-specific catalyst on top of the beta rally. For institutional desks, the tell is whether ETF flows stabilize after recent redemptions once realized volatility cools.
What’s Next?
Watch whether BTC holds $80,000 into the U.S. session, Zcash’s NU7 activation, and any follow-through in ether and solana if oil’s peace trade persists.
Affected Tickers and Coins: BTC, ETH, ZEC, SOL, XRP
Source: CoinDesk
