Grayscale

Bitcoin is trading near its highest level since January after a powerful advance from its July low. ETF inflows, rising futures open interest and bullish technical patterns are keeping market attention on the $91,000 area.

Altcoins are leading a broad crypto rebound, lifting total market capitalisation to $2.8T, its highest level since the end of January. Bitcoin has moved above the key $80K psychological level, but technical resistance and pullback risk remain in focus.

Bitcoin recovered from a drop near $77,600 and was little changed over the day as traders watched inflation data and the Federal Reserve’s Sept. 15-16 rate decision. Zcash drew the strongest attention after Grayscale’s newly listed ETF surpassed $500 million in assets and accumulated roughly 3% of circulating supply.

Bitcoin extended its breakout to its highest level since May 15, with BTC/USD reaching 80,372 as spot Bitcoin ETF demand continued to build. Technical traders are watching 85,000 as the next upside level, while 76,000 remains the key support that could challenge the bullish view.

Zcash rallied above $800 for the first time since 2018 as futures activity, social media comparisons to Bitcoin and Grayscale’s spot ETF effort intensified market attention. The move came with sharp volatility, heavy leverage signals and renewed focus on the privacy token’s Bitcoin inspired monetary design.

Bitcoin slipped as corporate treasury activity and miner sales added pressure to a market already locked in a narrow range. The shift is reviving debate over whether BTC is moving away from corporate balance sheets and back toward retail-driven ownership.

Bitcoin remained under pressure on Monday morning, with BTC/USD trading near 63,430 after several weeks of narrow movement. Traders are watching spot ETF flows, Federal Reserve messaging, and key technical levels at 67,000 and 60,000 for the next directional signal.

Ether has pulled ahead of the large-cap crypto market, rising about 11% over seven sessions while bitcoin gained 4.2% and several major tokens slipped. U.S. spot ether ETF inflows and new layer-2 demand from Robinhood Chain have helped narrow market attention around Ethereum.

Grayscale Chief Financial Officer Edward McGee has resigned after seven years at the crypto asset manager, with Kathryn Masci and Daniel Plourde named interim co-chief financial officers. The move follows another senior departure and comes as the manager of GBTC keeps its U.S. IPO preparations on hold amid market conditions.

Goldman Sachs says U.S. IPO issuance has surged to match 2021’s pace by dollar value, but the market still lacks the frenzy that defined past bubbles. Crypto firms including Payward, Ledger and Grayscale have also delayed listings amid volatile markets and softer demand.

Robert Mitchnick, BlackRock's head of digital assets, revealed that the asset manager has been actively engaging with pension funds, endowments, and sovereign wealth funds to provide education about the newly introduced spot bitcoin ETF products.