Bitcoin hovers around $83,000 as AI earnings revive tech, ZEC jumps 11% — SkimNews
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- Bitcoin rose 1.3% to $82,700 as gains in AI-linked tech stocks, including Super Micro Computer and SpaceX, revived investor sentiment in Asian markets.
- Zcash jumped 11% to $1,260 after developers set the mainnet activation height for NU7, an upgrade that reduces block times from 75 to 25 seconds and speeds up payment confirmations.
- NU7 will allocate 60% of transaction fees to a reserve paid out over time and has been running on Zcash’s test network since early October ahead of mainnet launch.
- Super Micro Computer surged 16% and SpaceX rose 8% in extended trading, driving a tech rally that lifted the Kospi 3.7% and Nasdaq 100 futures by 1%.
- Hashdex analysts noted Bitcoin’s bear phase has lasted 359 days as of September 30, nearing the duration of prior cycles, with short-term holders owning just 16% of supply—the lowest since January 2023.
- Bitcoin must reclaim $84,000 before the Federal Reserve’s October 27–28 meeting to signal strength, according to Hashdex, as markets weigh monetary policy impacts.
Why it matters: A breakout above $84,000 before the Fed meeting could shift sentiment after nearly a year of stagnation, with Zcash’s upgrade offering faster transactions and fee redistribution that may attract developer and user interest amid broader crypto market consolidation.
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