The global crypto market capitalization climbed to nearly $2.82 trillion, its highest level in more than seven months, as Bitcoin broke above $81,000 and major altcoins posted strong gains.
Bitcoin traded around $81,460, up 5.4%, while Zcash led the top 50 cryptocurrencies with a 16.5% surge. Cardano gained about 13%, and Dogecoin and XRP each rose roughly 10%.
Crypto-related stocks also rallied, with Strategy and Circle gaining around 15%, while Coinbase climbed about 10%. Strategy’s STRC preferred shares also recovered close to their targeted $100 par value after falling to $69 five weeks earlier.
The rally comes ahead of the Fed’s Sept. 16 rate decision, with traders almost evenly divided: markets price a 50.4% probability of a 25-basis-point rate hike versus a 49.6% chance of no change. $ZEC $DOGE $XRP
Bitcoin traded around $81,460, up 5.4%, while Zcash led the top 50 cryptocurrencies with a 16.5% surge. Cardano gained about 13%, and Dogecoin and XRP each rose roughly 10%.
Crypto-related stocks also rallied, with Strategy and Circle gaining around 15%, while Coinbase climbed about 10%. Strategy’s STRC preferred shares also recovered close to their targeted $100 par value after falling to $69 five weeks earlier.
The rally comes ahead of the Fed’s Sept. 16 rate decision, with traders almost evenly divided: markets price a 50.4% probability of a 25-basis-point rate hike versus a 49.6% chance of no change. $ZEC $DOGE $XRP
