Bitcoin nears $81,000 ahead of Fed decision as ZEC jumps 8%
Bullish strength: 70/100
- Bitcoin gained nearly 2% to just below $81,000, recovering from a decline toward $79,000.
- ZEC jumped 8% to around $1,320, while HYPE gained nearly 5% and major cryptocurrencies broadly advanced.
- Galaxy's Alex Thorn argued that Bitcoin's bear market ended in June and that accumulation may precede another advance.
- Bitcoin moved back above its 50-week moving average, according to the article.
Bearish strength: 30/100
- Bitcoin has struggled to hold above $80,000.
- A potential December Fed rate hike could increase borrowing costs and pull capital away from riskier assets such as cryptocurrencies.
- The market remains sensitive to the upcoming Fed decision and chair's comments.
This is automated NewsSignals analysis of third-party reporting, not independent original reporting or investment advice. AI scores are not price predictions.