Zcash Surges 10% While Bitcoin Stabilizes Around $87K in Expanding Crypto Market Rally
Zcash surged 10% to $1,616 Wednesday, its strongest performance among major cryptocurrencies, as declining oil prices and softer Treasury yields fueled a broader market rally. Bitcoin held steady near $86,900, up 1%…
Source: Blockonomi · Parameter · September 23, 2026 at 9:02 AM · AI-assisted report
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KUALA LUMPUR, 23 SEPTEMBER 2026 —
Zcash surged 10% to $1,616 Wednesday, its strongest performance among major cryptocurrencies, as declining oil prices and softer Treasury yields fueled a broader market rally. Bitcoin held steady near $86,900, up 1% from the prior day, while XRP climbed 6% and Dogecoin rose 4%, according to Blockonomi and Parameter data.
Market Impact
The gains follow Bitcoin’s recovery above $87,000 for the first time since January, despite the U.S. Senate’s rejection of the CLARITY Act last week. Market participants have shifted focus to alternative regulatory developments, including the SEC’s new innovation exemption framework, which allows qualified platforms to list tokenized U.S. equities on blockchain networks. This move has bolstered sentiment around tokenization projects and decentralized finance protocols, according to the SEC’s recent announcement.
The American Reserve Modernization Act, now advancing through the House Financial Services Committee, could further support crypto markets. The bill proposes transferring the U.S. government’s 325,000 Bitcoin—mostly seized through criminal forfeitures—into a Strategic Bitcoin Reserve managed by the Treasury for at least 20 years. Quarterly audits would verify holdings, while the legislation also mandates an assessment of how the government could acquire additional Bitcoin without increasing the deficit.
Traditional markets reinforced the crypto rally, with Brent crude falling toward $99 per barrel—its longest losing streak in a year—after U.S.-Iran diplomatic talks resumed. Lower oil prices ease inflation pressures and reduce upward pressure on bond yields, typically benefiting risk assets like cryptocurrencies. Treasury futures rose in Asian trading as yields slipped, further diminishing the appeal of fixed-income securities relative to higher-risk investments.
Institutional demand also strengthened after Strategy, the largest corporate Bitcoin holder, disclosed a $75.7 million purchase of 950 BTC, bringing its total holdings to 846,000. The acquisition signals sustained confidence despite Bitcoin’s consolidation near $87,000, though sustained momentum hinges on liquidity conditions and regulatory clarity.
For Malaysian markets, the broader risk-on sentiment may indirectly benefit equities and fixed-income instruments with global exposure. The SEC’s tokenization framework and U.S. Bitcoin reserve proposal could influence regulatory trends for blockchain-related firms in Malaysia, particularly those involved in digital asset services or cross-border tokenized transactions. However, direct exposure remains limited, as Malaysian regulators have not yet clarified rules for retail crypto trading.