Daily Crypto Signals: Bitcoin Struggles at $90K, Zcash Surges on Grayscale ETF Filing
Bitcoin continues its monthlong struggle to maintain key price levels while privacy coin Zcash attracts institutional attention following
Quick overview
- Bitcoin struggles to maintain key price levels, recently reclaiming $90,000 but still far from its all-time high of $126,000.
- The cryptocurrency market has lost over $1 trillion in value since October, with ongoing regulatory developments impacting investor sentiment.
- Zcash has gained significant attention following Grayscale's ETF filing, with a remarkable 1,050% increase in value over the past year.
- Institutional interest in privacy coins is rising, but regulatory uncertainties remain a concern for future growth.
Bitcoin BTC/USD continues its monthlong struggle to maintain key price levels while privacy coin Zcash ZEC/USD attracts institutional attention following Grayscale’s historic ETF filing. The broader cryptocurrency market remains under pressure with over $1 trillion in value erased since October’s peak as investors navigate regulatory developments and macroeconomic uncertainty.
Crypto Market Developments
On November 27, 2025, the total value of all cryptocurrencies was about $3.1 trillion. This is a big drop from the peak of almost $4 trillion in early October. Bitcoin recently went back up above $90,000 after spending almost a week trading below that level. However, it is still well behind its all-time high of $126,000, which was reached in early October.
The crypto fear and greed index shows that market mood has gotten a little better, but it is still firmly in the extreme fear zone, with a score of 15 out of 100. This is a little rise from last week’s value of 10, which suggests that traders are cautiously optimistic despite ongoing problems.
The fall has been especially bad in November, which was Bitcoin’s worst month since the market crashed in 2022. The entire value of all cryptocurrencies has decreased by more than $1 trillion since last month. This is because of a combination of leveraged position liquidations, ETF outflows, and a general feeling of risk aversion in financial markets.
Changes in regulations continue to affect how the market works. Japan’s Financial Services Agency has finished making preparations to place digital assets under the Financial Instruments and Exchange Act. This is the biggest update to the country’s crypto regulations in years. Bolivia, on the other hand, said it will add cryptocurrencies and stablecoins to its financial system, letting banks hold digital assets for their clients.
Bitcoin Reclaims $90,000, Can It Hold?
Bitcoin has been very unstable in November, ranging between $80,000 and $92,000 as bulls and bears fight for dominance. Bitcoin went up beyond $90,000 on Wednesday, but strategists said that the price movement doesn’t necessarily signal that the market is recovering, even though equity markets are feeling better. Earlier this month, the top cryptocurrency fell near $80,000, which raised worries about more losses.
Technical indicators show that Bitcoin’s short-term path is not clear. In the middle of November, a death cross happened when the 50-day moving average crossed below the 200-day moving average. This is usually a sign of a bear market, but in the past, it has only led to short-term downturns during times of extreme volatility. Resistance in the $88,000 to $90,000 range has been hard to break through, and traders have had to rethink support levels after several failures.
Institutional flows through Bitcoin spot ETFs are still a major force in the market. As of November 25, these investment vehicles had lost a net $4.7 billion for the month, however some individual days had seen hints of increased accumulation. JPMorgan said that Bitcoin may reach $240,000 in the long term, making it sound like a multi-year growth opportunity instead of just a cyclical investment. The investment bank said that cryptocurrency values are now more affected by general economic trends than by Bitcoin’s usual four-year halving cycle.
Expectations about what the Fed will do with interest rates are still affecting the price of Bitcoin. There is a better chance that the Fed will lower interest rates in December, and news from around the world that tensions between countries may relax has led to further buying in crypto assets. However, there is still some doubt about the direction of the central bank’s monetary policy as we approach into 2026, especially since stubborn inflation data has led some policymakers to be cautious about lowering rates even more.
Grayscale Files for Zcash ETF
Zcash has become one of the best-performing cryptocurrencies of 2025, with amazing returns that have caught the attention of both individual and institutional investors. ZEC rose more than 1,050% in the past year, beating both Bitcoin and Ethereum. This was due to rising demand for privacy-focused cryptocurrency solutions and companies using it as a strategic treasury.
On November 26, Grayscale submitted a Form S-3 registration statement with the SEC to turn its Grayscale Zcash Trust into a spot exchange-traded fund. This gave the privacy coin a big boost. If this gets the go light, it will be the first U.S.-listed ETF that focuses just on a privacy coin. This will give both retail and institutional investors regulated access to ZEC. The Grayscale Zcash Trust now has about 394,400 ZEC, which is worth about $199 million at current market values.
The ETF would trade on NYSE Arca under the symbol ZCSH. Coinbase Custody would be in charge of keeping the assets safe, while The Bank of New York Mellon would handle the transfers. Grayscale said that Zcash’s zero-knowledge cryptography, or zk-SNARKs, is a key part of the token’s long-term importance. They also said that privacy is a key part of the crypto ecosystem as it grows. Grayscale has already turned other single-asset trusts, such Bitcoin, Dogecoin, and XRP, into regulated ETFs, so this filing comes after that.
Zcash is currently worth about $500, which is a big drop from its recent high of about $736 in early November. Right now, 92% of Coinbase users are buying Zcash, and 92% of those customers have made more money in the last 24 hours. The huge rise began in September when many were worried about how the government could spy on Bitcoin’s open blockchain. This made investors look for other options that offered better anonymity.
The fact that businesses are using Zcash has made its market position even stronger. Leap Therapeutics said it would use a $50 million investment from Winklevoss Capital to buy ZEC tokens as part of their cryptocurrency treasury strategy. Reliance Global Group, on the other hand, put all of its digital assets into Zcash. These strategic measures show that more institutions are starting to see the potential of privacy coins, but the lack of clear regulations is still a concern for future growth.
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