Bitcoin holds above $80,000 as Zcash jumps 12% in post-election crypto rebound
Source: CoinDesk ·
From the source
Ether rose 8% as falling oil prices and a weaker dollar helped markets recover, even as traders weighed a tougher path for U.S. crypto legislation. Bitcoin held above $80,000 on Thursday as cryptocurrencies joined a broader market rebound after Democrats won both houses of Congress, with Zcash leading gains among the largest tokens. BTC traded around $80,484 during Asian morning hours, up 5.7% over 24 hours, according to CoinGecko data. Ether rose 8% to about $2,425, while XRP gained 4.7% to $1.31 and solana climbed 5.9% to $96. BNB added 4.2% to roughly $715. Zcash rose 11.7% to about $1,318, with $1.2 billion changing hands over the preceding day. The network allows users to make encrypted payments that conceal the sender, recipient and amount. The recovery followed an initial selloff as election results came in. Bitcoin briefly fell toward $75,700 early Wednesday before buyers returned, as CoinDesk reported . “Bitcoin has rebounded in line with stocks as the market believes that…