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Bitcoin rose 1.3% to about $82,700 during Wednesday’s Asian trading as strong technology earnings revived enthusiasm for the AI trade and lifted regional stocks. Zcash climbed 11% to about $1,260 after developers set the mainnet activation height for an upgrade that is designed to speed payment confirmations. Analysts say Bitcoin must reclaim $84,000 before the Federal Reserve’s Oct. 27–28 meeting to signal renewed strength.
Bitcoin rose 1.3% to just above $82,700 during Asian morning trading on Wednesday, hovering near $83,000 as strong technology earnings lifted regional stocks and renewed interest in artificial intelligence. Zcash (ZEC) jumped 11% to about $1,260 after developers set the mainnet activation height for its NU7 upgrade, which is designed to shorten the time between blocks and speed payment confirmations.
The technology rally followed strong earnings from SpaceX and Super Micro Computer, according to the CoinDesk report. SpaceX rose 8% in extended trading, Super Micro climbed 16%, and Nasdaq 100 futures advanced 1%. South Korea’s Kospi gained 3.7%, while Taiwan’s Taiex rose 1.4%. The gains helped revive enthusiasm for the AI trade, although not every company tied to the sector advanced: Australian data-center developer Nextdc fell 40% after cutting its outlook.
Zcash’s move followed a development milestone for NU7, the network’s next upgrade. Developers set the mainnet activation height—the block number at which nodes switch to the new rules. The upgrade is designed to reduce block intervals from 75 seconds to 25 seconds, allowing payments to confirm three times faster. It also directs 60% of transaction fees into a reserve to be paid out over time. NU7 had been running on Zcash’s test network since early October, according to the report.
Other major digital assets also advanced. HYPE and DOGE each gained more than 3%, XRP rose nearly 3% to $1.33, and ether added 2% to about $2,450, based on CoinDesk data. BNB and SOL gained between 1% and 2%, while TRX was little changed. The report also noted rising oil prices: Brent crude moved above $110 a barrel amid threats to shipping near the Strait of Hormuz and U.S. industry data pointing to another decline in stockpiles. The dollar firmed slightly and Treasuries gave back some of Tuesday’s gains.
Tech Earnings Set the Market Tone
The session shows how crypto prices are moving alongside broader risk markets, even as individual token developments can produce sharper moves. Bitcoin’s gain coincided with advances in Asian technology shares and futures after earnings revived interest in AI-related companies. Zcash’s 11% rise, by contrast, was tied in the report to a specific network-upgrade milestone, though the price move alone does not establish how much of the gain came from that news.
The distinction matters for readers tracking the market: Bitcoin’s level and the wider tech rally offer a snapshot of risk appetite, while ZEC’s upgrade-driven news concerns the operation of one blockchain. Both may affect trading, but the report does not establish that either development will produce sustained price gains. Digital assets remain volatile, and investors can lose some or all of the money they put into them.
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Bitcoin Faces a Fed-Week Test
Bitcoin’s advance leaves it below the $84,000 level identified by Hashdex analysts as a threshold to watch before the Federal Reserve’s Oct. 27–28 meeting. In an email to CoinDesk, the analysts said Bitcoin’s bear phase had lasted 359 days as of Sept. 30. They compared that duration with 361, 377 and 411 days for the previous three bear phases since 2011. Those historical comparisons are the analysts’ context, not confirmation that the current downturn has ended.
Hashdex also said short-term holders—described in the report as the group most likely to sell during a dip—owned 16% of Bitcoin’s supply, the lowest share since January 2023. That figure may help describe the current holder mix, but it does not by itself show whether selling pressure has ended or where prices will go. The next scheduled event highlighted in the report is the Fed meeting, which could add another market focus alongside earnings and technology-sector moves.
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Price Signals Remain Unsettled
Bitcoin’s rise does not confirm that its bear phase is over. The report presents Hashdex’s view that the worst of the decline may be close, but it does not establish a sustained reversal. Bitcoin remained below $84,000 during the reported Asian trading, and the supplied information does not give a later price or confirm whether it crossed that threshold afterward.
The report does not specify the exact mainnet activation date for NU7, only that developers set its activation height. It also does not detail how the fee reserve will be administered or quantify the expected effect of faster confirmations on Zcash usage. For the wider market, the strength and durability of the AI-related rally remain uncertain; Nextdc’s sharp fall after an outlook cut shows that company-specific risks persist even as other technology shares rose.
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Watch the Fed and NU7 Activation
Traders will be watching whether Bitcoin can reclaim $84,000 before the Federal Reserve meets on Oct. 27–28, the level Hashdex identified as a sign of renewed strength. That remains an analyst’s measure to watch, not an announced target from Bitcoin’s developers or a guaranteed trigger for a price move. Market attention may also stay on technology earnings, Asian equities, oil prices and developments affecting shipping near the Strait of Hormuz.
For Zcash, the next operational milestone is the NU7 mainnet activation at the block height set by developers. The provided report does not name the height or calendar date. Until those details and the upgrade’s mainnet performance are clear, the announced changes describe the upgrade’s design rather than confirmed effects on network use or transaction behavior.
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Key Questions
How much did Bitcoin rise?
Bitcoin rose 1.3% to just above $82,700 during Wednesday’s Asian morning trading, according to the report. It was hovering near $83,000 at that time.
Why did Zcash jump 11%?
The report linked ZEC’s rise to developers setting the mainnet activation height for NU7, an upgrade designed to cut block times from 75 seconds to 25 seconds and make payment confirmations three times faster. The report does not establish that the upgrade was the sole cause of the price increase.
What does the NU7 activation height mean?
It is the block number at which nodes switch to the new network rules. Developers set the activation height, but the supplied report does not state the number or give a calendar date for activation.
What Bitcoin level are analysts watching before the Fed meeting?
Hashdex analysts said Bitcoin would need to rise above $84,000 before the Oct. 27–28 Federal Reserve meeting to signal renewed strength. That is their market assessment, not a confirmed forecast.
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