Bitcoin Holds $79,000 as Zcash Surges 45% in a Week

Bitcoin is holding near $77,000 after surging 22% in a single week, a rally that signaled a sharp revival in risk appetite across cryptocurrency markets. The advance also lifted major altcoins including XRP and Zcash, but their outsized gains left them vulnerable to profit-taking. Whether the rebound can extend will depend on continued inflows and investors’ willingness to retain exposure after the rapid repricing.

The latest trading showed Bitcoin consolidating around $77,000 without surrendering much of its weekly gain, while XRP and Zcash pulled back after leading the previous week’s advance. Attention is also shifting toward the US Federal Reserve as traders assess how the outlook for interest rates and liquidity could affect demand for volatile assets. The divergence suggests momentum remains firm in Bitcoin even as parts of the broader crypto market cool.

Bitcoin, the bellwether for digital assets, remains caught in a death cross, formed when its 50-day exponential moving average falls below the 200-day measure and often read as a sign of weakening medium-term momentum. Zcash, a privacy-focused cryptocurrency, is moving in the opposite direction after a sharp mid-June retreat. The divergence matters because it tests whether crypto markets are building a durable base or merely producing short-lived rebounds amid Federal Reserve caution and renewed security concerns.

Decrypt's Aug. 5 analysis put Bitcoin at $64,656, up 0.94%, after it traded between $63,820 and $64,706. Its 50-day EMA near $64,200 remained below the 200-day EMA around $66,500; Bitcoin has held a $60,000-$67,000 range since touching roughly $56,000 in June. ZEC traded at $520.33, up 2.95%, with its 50-day EMA at $504.15 above the 200-day EMA at $488.40. The token's recovery followed the July 28 activation of the Ironwood, or NU6.3, upgrade at block 3,428,143, though weak ADX readings showed neither trend had strong conviction.