Bitcoin Holds Above $80,000 After Post-Election Rebound
Bitcoin remains above $80,000 after the U.S. election result, while Zcash stands out because of privacy concerns and the upcoming NU7 upgrade.
Key Takeaways
- Bitcoin stayed above $80,000 on Thursday and was trading around $80,484, after a 5.7% rebound in 24 hours.
- Ether, XRP, Solana and BNB joined the broader crypto market recovery after the U.S. election result.
- Zcash rose 11.7%, while the upcoming NU7 upgrade is expected to bring faster transaction processing.
Bitcoin held above $80,000 (€71,000) on Thursday as the crypto market recovered after the U.S. election result. Zcash posted the biggest gain among the larger tokens, while Ether, XRP, Solana and BNB also moved higher in the rebound.
Bitcoin and Major Tokens Recover
BTC traded around $80,484 (€71,400) in the Asian morning, up 5.7% in 24 hours, according to CoinGecko. Ether rose 8% to about $2,425 (€2,150), XRP gained 4.7% to $1.31 (€1.16), and Solana climbed 5.9% to $96 (€85). BNB added 4.2% and came in at about $715 (€635).
The bounce followed an initial wave of selling when the election result came in. Bitcoin briefly dropped to around $75,700 (€67,200) on Wednesday before buyers stepped back in. That recovery lined up with a broader rally in stock markets, where the S&P 500 gained 1.6% and the dollar weakened. The reaction to the result also fits a broader pattern of election volatility, as the earlier Bitcoin recovery move after the U.S. elections showed.
Zcash Stands Out
Zcash rose 11.7% to about $1,318 (€1,170), with $1.2 billion (€1.1 billion) in trading over the past day. The token is known for encrypted payments that hide the sender, receiver and amount. For investors in privacy-focused crypto, that remains a standout feature, especially now that regulatory oversight of financial privacy is getting more attention again.
At the same time, the Zcash community struck a cautious tone. A policy memo on the forum warned on Wednesday that financial privacy and illegal money flows could face more scrutiny under the new Congress, while the case for private payments was tied to consumer safety, business confidentiality and civil rights.
What NU7 Means
The rally also comes just before NU7, the next Zcash network upgrade, which is expected around Friday. That upgrade is supposed to cut the target block time from 75 seconds to 25 seconds. In practice, that means faster transaction processing and more capacity on the network.
For European crypto followers, the key point is that upgrades like this often show how a token moves not just on price sentiment, but also on technical changes and debates about usage and oversight. With Zcash, those two lines are now coming together in a pretty noticeable way.