Zcash Surges 23% as Privacy Coins Lead; U.S. CPI Data in Focus

I. Crypto Market Overview

Key Takeaways

Macro Environment

The Federal Reserve remains divided on the pace of rate cuts, with persistent inflation fueling policy uncertainty and potential market volatility. The U.S. Senate Banking Committee is advancing crypto regulation despite the government shutdown, supporting institutional confidence. A weaker U.S. dollar and expectations of further rate cuts are increasing demand for BTC and altcoins as inflation hedges.

Crypto Market

The crypto market saw mixed performance over the past 12 hours. Bitcoin (BTC) trades at $121,709, down 0.73%, while Ethereum (ETH) is at $4,349.8, falling 3.15%. Zcash (ZEC) surged 22.98% to $184.33 on strong privacy coin demand, and Monero (XMR) rose 1.78% to $332.08. Bitget Token (BGB) gained 0.64% to $5.67. Most altcoins declined, with FET dropping 6.82% and ARB down 3.13%. Privacy coins led gains, driven by renewed interest and exchange integrations.

Today's Outlook

Today’s key events include the release of U.S. CPI year-over-year inflation data, a major macro driver for crypto and global markets. Additionally, 50 million MOVE tokens ($5.74M) unlock for early contributors, which may introduce short-term volatility in MOVE’s price.

Fear and Greed Index

44.00% Annual Percentile

55 Neutral

Total Crypto Market Cap

$4.16T

0.47%

Total Market Trading Volume

$195.92B

16.62%

Altcoin Season Index

0.00%

Quarterly Percentile

43 / 100

Total Futures Market Open Interest

3.55B

1.94%

Futures

1.08T

5.70%

Perpetuals

II. Industry Updates

Macro-economic Policies

New York Fed President John Williams signaled support for further interest rate cuts this year to protect the labor market, which could boost BTC and DeFi liquidity by lowering borrowing costs.

The U.S. Dollar Index dropped to 98.91, reflecting a weaker dollar; this typically increases demand for BTC and altcoins as investors seek inflation hedges and alternative stores of value.

The Senate Banking Committee is advancing the Responsible Financial Innovation Act during the government shutdown, maintaining momentum for U.S. economic policy that could influence institutional crypto adoption.

Recent Fed minutes reveal growing divisions over the pace of rate cuts, with some officials urging caution due to persistent inflation; this uncertainty may drive volatility in BTC and ETH markets.

Cryptocurrency Regulatory Trends

The U.S. Senate Banking Committee is advancing the Responsible Financial Innovation Act despite the government shutdown, signaling continued focus on crypto market structure regulation and supporting investor confidence.

SEC reviews for new spot crypto ETFs, including Solana and Litecoin, are paused due to the shutdown, delaying approvals and creating short-term uncertainty for crypto investment products.

Coinbase has received regulatory approval to offer crypto staking services in New York, reopening staking access for residents and potentially boosting institutional and retail participation in the state.

U.S. Bank has been selected to custody reserves for Anchorage Digital Bank's payment stablecoins, reflecting growing regulatory alignment and institutional adoption of compliant stablecoin frameworks.

JPMorgan forecasts modest $1.5 billion first-year inflows for Solana ETFs, citing weak network activity and investor fatigue, but expects SEC approval soon, which could influence altcoin market sentiment.

Zcash (ZEC): ZEC surged 22% in 24h to $183, with trading volume over $1B, driven by renewed privacy coin demand and ShapeShift's shielded support integration.

Monero (XMR): XMR rose 2% in 24h to $332, outperforming Bitcoin as liquidations around $350 fueled buying; 24h volume reached $257M.

Bitget Token (BGB): BGB gained 0.8% in 24h to $5.68, maintaining high volume near $492M, supported by strong exchange activity and altcoin rotation.

Smart Money Movements

BlackRock's iShares Bitcoin Trust ETF acquired 3,450 BTC, highlighting increased institutional inflows and expanding its digital asset exposure.

Fidelity's digital asset custody grew by $3.02 billion in Q3 2025, with Ethereum holdings rising by 227,610 ETH, while Bitcoin balances decreased by 4,160 BTC.

Exodus Movement increased its Bitcoin treasury to 2,123 BTC and Ethereum holdings to 2,770 ETH in September, despite a decline in active users.

Japanese public company Remixpoint expanded its Bitcoin holdings by 3.22 BTC, reaching a total of 1,374.68 BTC, as reported on October 9.

A whale offloaded 440 million XRP in the past month, causing market concerns as XRP traded near $2.79 and technical indicators signaled bearish pressure.

Events to Watch

Oct 9 (Thu)

U.S. CPI year-over-year inflation data releases today, a key macro event for crypto and global markets.

Oct 9 (Thu)

50M MOVE tokens ($5.74M) unlock today for early contributors; DoubleZero (2Z) begins 4-year unlock, with Jump Crypto moving $20.9M to exchanges.

Oct 10 (Fri)

LINEA conducts its scheduled token unlock; Safety Shot rebrands to Bonk, Inc. and starts trading as BNKK on NASDAQ.

Oct 14 (Mon)

Monad opens airdrop claims; Chainlink hosts 'Road to SmartCon' event in London, focusing on blockchain and DeFi innovation.

Table of Contents

I. Crypto Market Overview

Key Takeaways

Macro Environment

Crypto Market

Today's Outlook

II. Industry Updates

Macro-economic Policies

New York Fed President John Williams signaled support for further interest rate cuts this year to protect the labor market, which could boost BTC and DeFi liquidity by lowering borrowing costs.

The U.S. Dollar Index dropped to 98.91, reflecting a weaker dollar; this typically increases demand for BTC and altcoins as investors seek inflation hedges and alternative stores of value.

The Senate Banking Committee is advancing the Responsible Financial Innovation Act during the government shutdown, maintaining momentum for U.S. economic policy that could influence institutional crypto adoption.

Recent Fed minutes reveal growing divisions over the pace of rate cuts, with some officials urging caution due to persistent inflation; this uncertainty may drive volatility in BTC and ETH markets.

Cryptocurrency Regulatory Trends

The U.S. Senate Banking Committee is advancing the Responsible Financial Innovation Act despite the government shutdown, signaling continued focus on crypto market structure regulation and supporting investor confidence.

SEC reviews for new spot crypto ETFs, including Solana and Litecoin, are paused due to the shutdown, delaying approvals and creating short-term uncertainty for crypto investment products.

Coinbase has received regulatory approval to offer crypto staking services in New York, reopening staking access for residents and potentially boosting institutional and retail participation in the state.

U.S. Bank has been selected to custody reserves for Anchorage Digital Bank's payment stablecoins, reflecting growing regulatory alignment and institutional adoption of compliant stablecoin frameworks.

JPMorgan forecasts modest $1.5 billion first-year inflows for Solana ETFs, citing weak network activity and investor fatigue, but expects SEC approval soon, which could influence altcoin market sentiment.

Trending Tokens

Zcash (ZEC): ZEC surged 22% in 24h to $183, with trading volume over $1B, driven by renewed privacy coin demand and ShapeShift's shielded support integration.

Monero (XMR): XMR rose 2% in 24h to $332, outperforming Bitcoin as liquidations around $350 fueled buying; 24h volume reached $257M.

Bitget Token (BGB): BGB gained 0.8% in 24h to $5.68, maintaining high volume near $492M, supported by strong exchange activity and altcoin rotation.

Smart Money Movements

BlackRock's iShares Bitcoin Trust ETF acquired 3,450 BTC, highlighting increased institutional inflows and expanding its digital asset exposure.

Fidelity's digital asset custody grew by $3.02 billion in Q3 2025, with Ethereum holdings rising by 227,610 ETH, while Bitcoin balances decreased by 4,160 BTC.

Exodus Movement increased its Bitcoin treasury to 2,123 BTC and Ethereum holdings to 2,770 ETH in September, despite a decline in active users.

Japanese public company Remixpoint expanded its Bitcoin holdings by 3.22 BTC, reaching a total of 1,374.68 BTC, as reported on October 9.

A whale offloaded 440 million XRP in the past month, causing market concerns as XRP traded near $2.79 and technical indicators signaled bearish pressure.

Events to Watch

Oct 9 (Thu)

Oct 9 (Thu)

Oct 14 (Mon)

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