Bitcoin Rebounds From Low as Grayscale’s Zcash Fund Hits $500M

Bitcoin fell to nearly $77,500 on Tuesday before recovering most of the losses, ending the day little changed and up slightly for the week.

Attention shifted toward Zcash, where Grayscale’s newly listed ETF crossed $500 million in assets just two weeks after its debut on NYSE Arca, pulling in more than $70 million in cumulative inflows alongside a $100 million investment from an affiliated firm.

Zcash Fund Now Holds Significant Token Supply

The fund now controls more than 550,000 ZEC, equal to roughly 3% of the token’s circulating supply, helping push Zcash’s price above $1,180 and its market value into the top ten cryptocurrencies. Other major tokens showed modest movement, with BNB and Tron posting small gains while Ether and Solana traded close to flat.

Macro Pressures Keep Markets on Edge

Oil prices climbed toward $100 a barrel amid renewed Middle East tensions, while Treasury yields held elevated as traders priced in a roughly 60% chance of a Federal Reserve rate hike at next week’s meeting. Analysts said crypto markets are currently trading more on macro rate expectations than crypto specific news, with upcoming inflation data seen as the final input before the Fed’s decision. Spot bitcoin ETFs saw a third consecutive week of inflows, adding about $1 billion.