Zcash Hits Highest Price in Nearly a Decade, Crushing Short Bets
In brief Zcash climbed as much as 20% to an intraday high of $1,029 on Friday, its best level in a decade, as about $34.5 million in short positions got force-closed on the break above $1,000. The move built on...
Bitcoin 1 Minute
A notable development has hit the crypto markets. In brief Zcash climbed as much as 20% to an intraday high of $1,029 on Friday, its best level in a decade, as about $34. 5 million in short positions got force-closed on the break above $1,000.
The move built on Thursday's rally after Fed Governor Christopher Waller said he'd be "inclined to support" holding rates steady, pulling September hike odds to 50. 2% and setting off more than $415 million in short liquidations across crypto.
Friday's August jobs report showed the U. added 162,000 jobs against a forecast of 56,000, sending Bitcoin back under $80,000 on renewed hike bets even as Zcash held on to most of its gains.
Crypto markets are watching this development closely as investors weigh its potential impact on prices.
