Bitcoin Holds Steady Amid Fed Rate Hike as Zcash Surges on Institutional Backing
Bitcoin remained relatively stable near $76,300 following the Federal Reserve's decision to raise interest rates by 25 basis points in September 2026. The move was widely anticipated and had minimal immediate impact on crypto markets compared to traditional assets like equities and Treasurys. In contrast, Zcash (ZEC) surged as much as 23% after Paradigm co-founder Matt Huang revealed his firm's investment in the privacy-focused cryptocurrency. This marked a significant jump for ZEC, which has gained over 160% in just one month and nearly 3,000% year-to-date. The broader crypto market remained neutral with a fear-and-greed index reading of exactly 50, down from extreme greed levels three weeks ago. Meanwhile, the Fed signaled potential for another rate hike by year-end at its next meeting in late October.
Topics: Bitcoin Federal Reserve Interest Rates Treasury Yields Zcash