Sep 17: Crypto Markets Rally Despite Fed's First Rate Hike Since 2023; Zcash Hits Record…

Market Snapshot

• Bitcoin (BTC): $76,734.66 (+1.01% 24h)
• Ethereum (ETH): $2,459.80 (+2.22% 24h)
• Solana (SOL): $100.75 (+3.26% 24h)
• Notable number: US spot Bitcoin ETFs saw $295.98M in outflows on Wednesday, while aggregate crypto futures open interest hit $64.4B.

Top Stories

• US Bitcoin Reserve Bill Clears House Committee; Tax Reform and Regulatory Gridlock
• Crypto Markets Rally Despite Fed's First Rate Hike Since 2023; Zcash Hits Record High
• Celsius Sues BitMEX for $495 Million Over 2020 Crash Liquidations
• Google Stock Climbs 4% in Three Days Amid AI Expansion, But Analyst Targets Diverge

Key Takeaways

• US lawmakers are advancing crypto-specific legislation, but partisan divides and Senate gridlock persist.
• Crypto markets displayed unusual strength after a Fed rate hike, with Zcash’s surge driven by both institutional support and governance reform.
• Legal battles over historic exchange liquidations underscore ongoing risks in crypto derivatives and bankruptcy recoveries.
• Big Tech’s AI investments are fueling stock rallies, but analyst targets and ROI remain contested.

What to Watch

The US Bitcoin Reserve bill and Digital Asset Tax Certainty Act now await full House votes—watch for scheduling signals and further bipartisan negotiations. Zcash’s price action and governance reforms will be tested as new features roll out and institutional interest grows. In traditional markets, keep an eye on the Fed’s next moves and how crypto responds to further policy signals. BitMEX’s imminent shutdown could trigger more litigation or claims from affected parties.