"Crypto markets continue to struggle on the back of the FOMC meeting this past Wednesday. Fed Chair Powell's comment of no guarantee of cuts in December has had markets reeling, with Bitcoin beginning to recover today, trading above its 200 day SMA at around $110,000 at this time of writing. But Bitcoin's recovery is not as significant as Z-Cash, the crypto story of the moment."
"Macro Factors The Trump administration continues to soften on China, saying tariffs might be reduced another 10%, a welcome piece of news for all of risk assets. Uptober has not lived up to its name unfortunately, which is an unwelcome sign for Q4 of 2025 for bulls. The market will continue to wait for catalysts to get back to risk-on mode."
"Z-Cash continues to be one of the outperformers in October. Today it's up nearly 12%, to $369 per coin and rapidly approaching the $400 level with consistent support and volume. The privacy narrative in crypto has been gaining momentum, as several prominent accounts on Crypto Twitter have been supporting Z-Cash and the importance of privacy. This is a return to the old cypher-punk ways that crypto began with, a stark departure from the cheering towards Wall Street and traditional adoption of crypto."
Fed Chair Powell's comment that there is no guarantee of December rate cuts unsettled markets and left crypto struggling after the FOMC meeting. Bitcoin began to recover, trading above its 200-day SMA at around $110,000, yet its rebound lagged Z-Cash. Z-Cash rose nearly 12% to $369, approaching $400, driven by a renewed privacy narrative and support from prominent Crypto Twitter accounts. Z-Cash gained cross-chain and protocol support to increase liquidity and yield opportunities, and maintains listings on major exchanges such as Coinbase, whose stock rallied after an earnings beat.
Read at 24/7 Wall St.
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