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Crypto, Stocks Rally Post-Rate Hike; Zcash Hits All-Time High

Crypto, Stocks Rally Post-Rate Hike; Zcash Hits All-Time High

Crypto and equity markets both firmed in the hours after the Federal Reserve’s Wednesday rate decision and across Thursday, with traders reading the central bank’s quarter-point hike and accompanying guidance as roughly in line with expectations rather than a fresh source of tightening risk. Bitcoin traded at $76,642, up modestly over 24 hours, according to CoinGecko, while total crypto market capitalization rose 1.6% to $2.63 trillion.

The rally was broad rather than concentrated in Bitcoin. Of the 100 constituents in the CoinDesk 100 index, 94 advanced over 24 hours, and the small-cap-heavy CoinDesk 80 index gained 4.7% against just 1.2% for the Bitcoin-heavy CoinDesk 5.

Zcash was the standout, around 30% to a record past $1,485…

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