Bitcoin Reclaims $81,000, Zcash Grows +15.6%
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Bitcoin has recovered its recent losses. During Asian trading hours on Friday, the largest cryptocurrency changed hands at around $81,000, up roughly four percent over 24 hours. Only days ago the price had slipped below the $78,000 mark after Fed Chair Kevin Warsh signaled that a rate increase was on the table.
The Rates Market Did the Work
The rebound was driven by a repricing of U.S. monetary policy. Fed Governor Christopher Waller indicated he would support holding rates steady if price pressures continue to ease. The probability of a rate increase this month, as priced in by the CME FedWatch tool, fell from above 63 percent to roughly even, according to CoinDesk. Bond yields eased, buyers moved back into risk assets, and gold as well as global equity indices advanced alongside crypto.
A second factor came out of Japan. The yen strengthened by about two percent, erasing a month of gradual decline in a single session. A stronger yen typically drains liquidity from the carry trades that help fund positions in risk assets, including crypto. This time bitcoin absorbed the move without giving back its gains.
Sentiment Gauge Jumps Into Extreme Greed
The shift in mood shows up clearly in CoinMarketCap’s Crypto Fear & Greed Index, which has risen sharply within days and recently stood at 78 out of 100, placing it in “Extreme Greed” territory. The index weights volatility and market momentum at 25 percent each, which makes it react strongly to rapid price moves. The comparable gauge from alternative.me tells a similar story, climbing from 65 to 74 points. Readings at these levels have historically pointed to an overheated market that is vulnerable to a correction.
ETF Inflows Pick Up Again
Institutional demand has turned as well. U.S. spot bitcoin ETFs took in roughly $277 million on Thursday on provisional figures. Before that, four sessions had alternated between buying and selling: at the start of the month, outflows of $236.5 million were followed by inflows of $101.1 million, according to Farside Investors. August was the strongest month of the year for these products, with about $3.5 billion in net inflows. Whether a single strong day turns into a streak remains the open question, since only several consecutive sessions of buying would show that institutional investors read the rate repricing as durable.
Zcash Extends Its Lead
Nearly every major asset gained on the day. Zcash stood out with a 15.6 percent jump over 24 hours and 21 percent on the week, extending a rally that has left it well clear of the rest of the market. Monero, the other large privacy coin, moved in the opposite direction and lost ground over both time frames.
| Asset | Price | 24h | 7 Days |
|---|---|---|---|
| Bitcoin (BTC) | $81,008 | +4.16% | +1.68% |
| Ethereum (ETH) | $2,509 | +4.39% | +0.68% |
| BNB (BNB) | $724 | +4.23% | +1.72% |
| XRP (XRP) | $1.44 | +5.79% | +1.75% |
| Solana (SOL) | $103.65 | +2.86% | -3.31% |
| TRON (TRX) | $0.3287 | +0.79% | -3.10% |
| Hyperliquid (HYPE) | $86.06 | +4.78% | +3.59% |
| Zcash (ZEC) | $955.19 | +15.59% | +21.05% |
| Dogecoin (DOGE) | $0.08692 | +4.81% | -0.97% |
| Monero (XMR) | $502.36 | -2.06% | -9.28% |
| Chainlink (LINK) | $11.87 | +5.76% | +0.68% |
| UNUS SED LEO (LEO) | $9.31 | +0.07% | -1.36% |
| Cardano (ADA) | $0.2208 | +7.00% | +5.24% |
The weekly picture is far more subdued than the daily numbers suggest. Bitcoin is up about 1.7 percent over seven days, ether and chainlink sit barely in positive territory, and solana and TRON are each down around three percent. The move above $81,000 is therefore best read as a response to shifting rate expectations, and the coming sessions will show how much of it holds.
