Bitcoin Stalls as Privacy Coins Zcash and Monero Outperform
- —Zcash gained 3% to trade near $1,372.69, while Monero rose 2.14% to $562.32
- —Bitcoin sits at $86,264 (+0.59%) and Ethereum at $2,714 (+0.34%), with the market near $3 trillion
- —ZEC is 19% below its $1,698 peak; Grayscale's Zcash ETF saw $30.25 million in outflows on Sept. 30
- —The Fed hiked rates to 3.75%-4.00% on Sept. 16; September payrolls came in at 29,000 vs. 84,000 expected
Why it matters: Privacy coins are outperforming a flat market, but ZEC and XMR remain in consolidation rather than a confirmed trend reversal.
Source: Decrypt