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.

The SEC separately issued a temporary, conditional exemption on Sept. 17 allowing certain venues to trade tokenized U.S. stocks onchain. Oil was also falling. Bonds gained during Asian trading as Brent hovered near $99 a barrel after six straight losing sessions.

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Tony Dicarlo Analysis

Tony Dicarlo, director of institutional propositions at RootstockLabs, told CoinDesk that technical and policy developments had improved market confidence. He said the SEC exemption helped tokenization-related assets, while the reserve bill pushed the federal Bitcoin stockpile debate further through Congress.

CoinDesk reported that the bill would cover roughly 325,000 Bitcoin already held by the U.S. government, much of it obtained through criminal and civil forfeitures. It would also require a study of budget-neutral ways to acquire more Bitcoin. The bill still faces votes in both chambers.

Bitcoin's recent advance also provides the immediate market backdrop for the policy changes now shaping crypto sentiment. Dicarlo said, “Bitcoin's back above its 50 & 200 week moving averages, up ~29% in 35 days.”

Aliasgar Juzar

Aliasgar is an associate writer at Yellow.com, covering crypto, AI, and the infrastructure underneath both. He started writing after having come from the other side of the industry, spending six years building and supporting developer tools at protocols including Ignite, Informal Systems, Akash and Warden, much of it inside the Cosmos ecosystem. He holds a master's in computer science, has shipped products of his own, and writes from Germany.