Zcash Mounts Summer Rally, Ethereum Rebounds, and Bitcoin Tests $65,000 Again

Takeaways

• Zcash mounts summer rally: The latest move marked a rapid turnaround for the token after it bottomed out around $340 on June 6. But demand has remained strong with the planned Ironwood upgrade later this month. The number of shielded addresses jumped to 32% of total supply. Over the past year, Zcash has jumped more than 1,100%, hitting a high just short of $700 this past November.
  
  
• Trump plans meeting with Senators to discuss CLARITY Act: in an attempt to get market structure legislation passed before the August recess. Earlier this week, President Trump urged Congress to pass the law in the Senate, paving the way for him to sign it into law after months of negotiations. It’s unclear whether the meeting will include Democrat lawmakers who currently oppose the legislation, but a final version of the text is expected to go public later this week.
  
  
• Bitcoin shows more strength, signaling bottom is in: The mid-week rally came after US PPI inflation fell 0.3% in June and headline PPI was at 5.5% year-over-year, well below the 6.2% consensus. It marked the first monthly decline since August 2025, all but guaranteeing the Federal Reserve will opt to leave the benchmark federal funds rate unchanged at their upcoming July meeting. Ethereum has also rallied over the past month, rising nearly 11% to more than $1,900.
  
  
• Strategy sells $467 million in stock: Funds from the sale were used to boost the company’s dollar reserve by $450 million to $3 billion, which were then directed to pay the company’s interest on debt payments and make dividend payments for their preferred stock. Strategy stock has decreased almost 40% year-to-date as the bitcoin treasury company has moved to an active buy-and-sell strategy for its bitcoin reserve.

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