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Zcash (ZEC) Jumps 8% Daily, Bitcoin (BTC) Calms at $78K: Weekend Watch

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Bitcoin’s price jumped from $76,000 to almost $79,000 on Friday after the latest reports on the US-Iran war front, but retraced slightly and calmed at around $78,000.

Most altcoins have posted minor gains over the past 24 hours, including ETH, which has climbed to $2,300, and HYPE, which has neared $42.

BTC Taps $78K

The previous business week began with a notable surge from the primary cryptocurrency. After it traded sideways at around $77,000 over that weekend, the asset jumped to $79,500 for the second time in the past week. However, just like it happened during the first attempt, the bears were quick to intervene and pushed it south hard.

At first, BTC dipped to $77,500 before another leg down drove it to $76,500. The bears kept the pressure on, and the cryptocurrency slipped to $75,750 on Tuesday. After a failed recovery attempt at $77,750, bitcoin slumped to a weekly low at $75,000 after the US Federal Reserve kept the interest rates unchanged for the third consecutive time in 2026.

After that local bottom, BTC bounced off to $76,500 on Thursday and up to almost $79,000 yesterday after reports that Iran had sent another peace proposal to the US. However, bitcoin was stopped there after the POTUS said the proposal was not good enough, and now trades inches above $78,000.

Its market capitalization has stalled at $1.570 trillion, and its dominance over the alts remains well above 58% on CG.

BTCUSD May 2. Source: TradingView
BTCUSD May 2. Source: TradingView

ZEC Pumps Again

Ethereum has returned to $2,300 after a minor 1% increase. XRP remains below $1.40 despite a similar daily jump, but many analysts anticipate a major move in the making. HYPE is the top performer from the largest 15 alts, gaining 3% to almost $42.

ZEC has stolen the show from the top 100 alts, surging by almost 8% to $380. HASH and SIREN follow suit, with gains of around 6% each. TAO is up by 5% to $273. TRX and BCH have also posted minor gains, while BNB and LINK are slightly in the red.

The cumulative market cap of all crypto assets has remained relatively stable at $2.680 trillion on CG.

Cryptocurrency Market Overview May 2. Source: QuantifyCrypto
Cryptocurrency Market Overview May 2. Source: QuantifyCrypto

 

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