Bitcoin reached the US$80,000 mark, driving the total market value of cryptocurrencies to US$2.82 trillion. The privacy coin Zcash performed most prominently in this wave of gains. Related stocks such as Strategy rose simultaneously, but the market still has different views on the path of the Federal Reserve's interest rates.
The most unreasonable person in this round of rebound is Zcash.
On this day when the total market value of cryptocurrency reached US$2.82 trillion, the leader was not market value kings such as Bitcoin or Ethereum, but Zcash, which focuses on privacy transactions. Bitcoin itself is not idle either. The price has returned to the $80,000 mark, setting the tone for the overall market sentiment.
The stock market reacted simultaneously. Shares of companies linked to cryptocurrency businesses followed suit, including Strategy, which holds a large Bitcoin position. The simultaneous rise of crypto assets and related stocks shows that this wave of market sentiment does not only stay within the currency circle, but has also been transmitted to investor sentiment in the public market.
However, the overall environment supporting this rebound is unclear. The Fed's interest rate expectations are still divided, and the market has no consensus on the next direction of monetary policy. In other words, Bitcoin's return to $80,000, Zcash's rise, and Strategy's stock price are rising, all happening in a context where the outlook for interest rates remains uncertain.
Currently, public information does not provide the specific increase of Zcash, the real-time price range of Bitcoin, or the percentage change of Strategy's stock price. The relevant details need to be completed in subsequent reports.
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