Bitcoin hovers around $83,000 as AI earnings revive tech, ZEC jumps 11%
Summary
Bitcoin gained 1.3% to just above $82,700 as Asian markets rallied on strong earnings from SpaceX and Super Micro Computer. Zcash rose 11% after developers set the activation height for its NU7 upgrade, which will shorten block times from 75 to 25 seconds and direct 60% of transaction fees to a reserve. Other major cryptocurrencies also advanced. Analysts cited bitcoin’s historically long bear phase and a low share of supply held by short-term investors as signs its decline may be nearing an end, though it would need to regain $84,000 ahead of the Fed’s Oct. 27–28 meeting.
