Bitcoin rebounds near $79,000 as Zcash ETF passes $500 million

Bitcoin price rebounds

Bitcoin fell to $77,666 on Tuesday but rose back to about $78,900 by Wednesday morning. The move left the cryptocurrency almost unchanged over the past 24 hours and up just under 2 % for the week.

Key numbers

• Bitcoin price: $78,900 (near $79,000)
• Bitcoin weekly change: +1.9 %
• Zcash price: $1,180, up >4 % on the day
• Zcash ETF assets: $500 million, holding >550,000 ZEC (≈3 % of circulating supply)

Confirmed facts

The price data comes from CoinDesk’s market tracker. Grayscale announced that its Zcash exchange‑traded fund (ETF) – an investment vehicle that trades on an exchange like a stock – crossed $500 million in assets two weeks after listing on NYSE Arca. The fund has accumulated about 3 % of Zcash’s 16.9 million circulating supply.

Unclear aspects

Analysts note that Bitcoin faces selling pressure near the top of its $77,200‑$82,100 range, but the exact impact of upcoming inflation reports and the Federal Reserve’s September rate decision remains uncertain.

Impact on market

The Zcash ETF inflow shows continued investor interest in privacy‑focused assets. Bitcoin’s quick recovery suggests short‑term resilience despite broader macro‑economic concerns such as high Treasury yields and volatile oil prices.

Upcoming events

The market will watch the U.S. Producer Price Index on Thursday and the Consumer Price Index on Friday, which could influence the Fed’s rate decision on September 15‑16.

Sources

• CoinDesk