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BTC 
ZEC Bitcoin rebounded strongly from US$77,666
On Tuesday, as selling pressure increased, Bitcoin prices fell below the US$78,000 mark and hit as low as US$77,666. However, this decline did not continue. During the Asian trading session, buying re-entered, pushing BTC prices back to about US$78,900. Bitcoin's 24-hour price trend was basically flat, with a weekly increase of less than 2%. The market is generally focused on the two key areas of $75,000 and $82,000, which will be the main observation points before the Fed's interest rate decision.
Zcash performed brilliantly, ETF size exceeded $500 million
While Bitcoin's trend was relatively flat, Zcash (ZEC)'s upward trend was striking. About two weeks after listing on the New York Stock Exchange's Arca platform, Grayscale's Zcash ETF under the symbol ZCSH has passed the $500 million mark in assets under management. According to Grayscale, the fund not only received $100 million from DCG International Investments, but also attracted more than $70 million in new capital inflows. It is reported that the fund holds more than 550,000 ZECs, accounting for approximately 3% of the circulation supply of 16.9 million.
The ZEC price is currently operating above US$1,180, with a daily increase of more than 4%, and a weekly increase of about 43%, making it one of the high-profile assets in the cryptocurrency market.
Bitcoin faces critical test before Fed decision
The direction of the cryptocurrency market will not only be affected by the inflow of ETF funds, but will also be deeply shaped by macro data from the United States. Investors 'focus is on the producer price index (PPI), the consumer price index (CPI) and the FOMC meeting scheduled for September 15 - 16. Jasper De Maere, an OTC trader at Wintermute, pointed out that market pricing is gradually shifting from specific events in the crypto space to a focus on interest rates:
"Current records show that market dynamics are more driven by interest rates than by independent developments in the crypto industry. We expect increased volatility around the weekend. During the FOMC meeting,$75,000 and $82,000 remain key levels that require focused monitoring."
Future outlook for Bitcoin and Zcash
Bitcoin's rapid rebound from US$77,666 suggests there is still active buying power above the US$75,000 range. At the same time, if it can successfully break through US$79,000 or even US$82,000, it will provide an important opportunity for BTC to regain its upward momentum. In terms of Zcash, strong ETF capital inflows and the fund's absorption of a large number of circulating chips will become important factors affecting its price.
Looking to the future, the price trend of Bitcoin, the funding trend of Zcash ETF, the release of U.S. inflation data and the Federal Reserve's interest rate decision will become the core variables that dominate the direction of the cryptocurrency market.
