Bitcoin rebounds to $79.4k amid Zcash ETF inflows, Fed and oil headwinds
Bitcoin rose 1.7% to $79,390.2 by 09:47 ET (13:47 GMT) on Wednesday, recovering from lows near $77,600 recorded on Tuesday. The cryptocurrency had briefly topped $82,000 the previous week but retreated after stronger‑than‑expected U.S. employment data.
Grayscale’s Zcash exchange‑traded fund, which debuted on NYSE Arca on 25 August, saw assets exceed $500 million roughly two weeks after launch, marking the first spot‑exposure ETF for Zcash and expanding institutional access to the token.
Traders increased bets that the U.S. Federal Reserve may raise interest rates at its 15‑16 September meeting, with market pricing indicating a 58% probability of a September hike. UBS forecast two 25‑basis‑point rate hikes this year, one in September and another in December. Higher rates are expected to dampen demand for risk‑sensitive assets such as Bitcoin, contributing to the cryptocurrency’s inability to sustain its recent highs.
Oil prices added to the macro backdrop: Brent crude rose to $99.68 per barrel, the highest level since late June, as Middle‑East tensions raised concerns about broader energy‑supply disruptions. The oil surge intensifies inflation worries, complicating central‑bank policy decisions.
U.S. producer‑price data are scheduled for release on Thursday, followed by consumer‑price figures on Friday, which will be closely watched for further guidance on the Fed’s policy trajectory.
Altcoin activity was broadly positive. Ethereum advanced 2.1% to $2,510.37, XRP gained 1.9% to $1.43, Solana rose 1.3%, while Cardano and BNB posted marginal gains. Among meme tokens, Dogecoin increased 1.8%.
The article, authored by Ayushman Ojha and contributed by Vahid Karaahmetovic, was published on 9 September 2026 at 11:54 am and updated at 7:20 pm, citing Reuters via Investing.com.