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Bitcoin stays range-bound as Zcash pushes higher after upgrade

Bitcoin is hovering near its 200-day EMA around $66,500, while Zcash rallied 2.95% on July 28’s Ironwood upgrade activation.

Reported · Written up by our desk · Market Structure

Decrypt reports that Bitcoin remains range-bound, trapped in a “death cross” setup as it struggles to turn recent stabilization into a confirmed trend. The analysis points to a ceiling near the 200-day exponential moving average around $66,500, with the 50-day EMA near $64,200 still below the longer-term level.

The article attributes part of Bitcoin’s cautious tone to market worries spanning quantum and AI threats, plus a custody scare tied to a late-week Coldcard wallet exploit disclosed by the outlet. It also notes that the Federal Reserve left rates unchanged at 3.5% to 3.75%, keeping risk assets in a wait-and-see posture.

For Zcash, Decrypt says the opposite chart picture is tied to the Ironwood upgrade, with network upgrade NU6.3 activating on mainnet July 28 at block 3,428,143. The outlet describes the update as having reworked Zcash’s privacy backbone and references fears around an AI-discovered vulnerability that is now said to be patched.

Decrypt adds that Zcash dipped on the upgrade activation in a sell-the-news move, before buyers returned. It cites Tuesday’s 2.95% gain for ZEC and says Bitcoin is currently priced at $64,656, up 0.94%, with the broader view still framed as a base rather than a breakout.

Latest closeBitcoin $64,714.79 ▲1.0%

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