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ZEC Bitcoin breaks through the US$81,000 mark again, and the focus of market attention returns.
This weekend, the price of Bitcoin once again climbed above US$81,000, once again becoming the focus of the cryptocurrency market. The main factor driving the rebound in market risk appetite is the change in market expectations for the Federal Reserve's interest rate policy. Expectations of more moderate interest rate cuts have pushed Treasury yields back, encouraging investors to shift their funds into risky assets led by Bitcoin.
Although the altcoin market as a whole is showing an upward trend, with Zcash performing the strongest with a daily gain of nearly 15%, Bitcoin's cumulative gains this week are limited, indicating that the current rebound has not yet transformed into a strong and lasting trend reversal.
Bitcoin prices rise again
In the past 24 hours, bitcoin prices have risen by about 4%, successfully stabilizing the US$81,000 mark, further consolidating the market's recovery momentum. This increase was mainly due to the following key factors: softening market expectations for the Federal Reserve's interest rate policy, falling government bond yields, and increased investor interest in risky assets.
Federal Reserve Governor Christopher Waller said he supported keeping interest rates unchanged if inflationary pressures eased. This comment prompted the market to readjust its expectations for interest rate movements, helping Bitcoin prices rebound.
Altcoins are generally rising, but the trend is not yet solid
In this round of rebound, Zcash performed particularly well, with a single-day increase of nearly 15%, and a weekly increase of more than 20%. At the same time, other mainstream altcoins also followed suit: Hyperliquid's HYPE token rose by about 6%, and XRP rose by a similar amount; Ethereum, BNB and Dogecoin rose by between 4% and 5%, and Solana rose by about 3%.
However, judging from weekly performance, the market's current rise has not yet formed a broad and strong long-term trend, and the sustainability of the rebound remains to be seen.
Pay close attention to the flow of Bitcoin ETF funds
On Thursday, the U.S. spot Bitcoin ETF recorded a net inflow of approximately US$277 million, indicating that institutional investors 'interest in Bitcoin may be picking up. However, it remains unclear whether a single day of capital inflows will be enough to ensure a lasting market recovery.
It is expected that in the next few days, the inflow of funds into ETFs and the Federal Reserve's stance on interest rate policy will continue to have a decisive impact on the price of bitcoin.
Macroeconomic factors continue to coexist with pressure and support
Changes in interest rate expectations continue to directly affect the bitcoin price. Lower interest rate expectations generally favor demand for risky assets, while a strong dollar and rising Treasury yields could put pressure on the crypto market. In addition, investors also need to pay close attention to the dynamics of the yen exchange rate and carry trade. A stronger yen may be one factor reducing liquidity flows to risky assets.
Comprehensive assessment
Bitcoin broke past $81,000 again, boosting market expectations for a short-term rebound. However, limited by the small weekly gains, the current rally has not yet turned into a strong and lasting trend reversal. Looking to the future, investors need to closely track the trend of bitcoin prices, the dynamics of capital inflows of spot ETFs, the direction of the Federal Reserve's interest rate policy and the market activity of the altcoin sector. These factors together determine the subsequent direction of the market.
