Zcash Jumps 10% While Bitcoin Holds Near $87,000 With US Policy In Focus

Zcash (ZEC) climbed 10% above $1,616 on Wednesday as Bitcoin (BTC) held near $86,900, while U.S. policy moves and lower oil prices supported broader crypto gains.

Key Points:

• Zcash gained 10% to lead major cryptocurrencies, while Bitcoin rose 1% over 24 hours and held near $86,900.
• A House panel advanced a Strategic Bitcoin Reserve bill, while the SEC approved temporary relief for onchain trading of tokenized U.S. stocks.
• Tony Dicarlo said Bitcoin has gained about 29% in 35 days and moved back above its 50-week and 200-week moving averages.

Zcash Market Rally

Zcash traded just above $1,616 during Asian hours, recording the strongest gain among major tokens tracked by CoinDesk. Bitcoin stayed near $86,900. XRP (XRP) advanced 6% to more than $1.62, while Hyperliquid (HYPE) added 4% to nearly $97.

Dogecoin (DOGE) also rose 4%, while Ether (ETH), BNB (BNB) and Solana (SOL) each gained less than 1%. Tron (TRX) was the outlier.

The U.S. House Financial Services Committee advanced the American Reserve Modernization Act on Sept. 16 by a 28-21 vote, moving H.R. 8957 toward consideration by the full House. The bill would create a Treasury Strategic Bitcoin Reserve, impose a 20-year minimum holding period and require proof-of-reserve reporting. The measure is not law yet.