Zcash Up 6% as XRP Drops 7% Ahead of Fed Decision — SkimNews
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- Zcash rose nearly 6% to just above $1,200 by European morning hours, the only major cryptocurrency trading higher according to CoinDesk data.
- XRP led decliners with a drop of more than 7% to $1.29, while Ether and Solana each fell about 3%.
- Bitcoin, BNB, and Tron each fell roughly 1%, with Bitcoin trading just under $76,000 after dipping below $75,000 on Tuesday.
- Bitcoin's slide below $75,000 followed the failure of the CLARITY Act in the U.S. Senate, the digital-asset industry's main legislative push this year.
- The Federal Reserve is set to decide on rates later Wednesday, with a quarter-point hike already priced in by markets.
- Bitunix analysts told CoinDesk the size of the Fed move matters less than what happens to long-term Treasury yields afterward.
- If long-dated yields hold near current levels despite a tighter short rate, markets are pricing U.S. inflation and fiscal risk separately from the Fed's actions.
Why it matters: The CLARITY Act's defeat in the Senate — the crypto industry's top 2025 regulatory priority — directly preceded Bitcoin's drop below $75,000, handing traders a concrete legislative headwind heading into the Fed's decision. Bitunix's framing shifts attention from the headline rate move to long-dated Treasury yields, arguing that's where fiscal-risk pricing will show up.
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