Bitcoin tops $81,500; Zcash lumps 22% after Trump pause

The crypto market rose 0.81% to $2.67 trillion in the past 24 hours as Bitcoin climbed past $81,500 and Zcash gained 22%. President Trump paused Project Freedom in the Strait of Hormuz, citing progress toward an Iran agreement. The announcement coincided with lower oil prices and gains in U.S. equities, and markets moved back toward risk assets.

Total crypto market capitalization increased by about $21.34 billion and traded just below the $2.69 trillion level that corresponds to the 0.5 Fibonacci resistance. A daily close above $2.69 trillion would open the path to roughly $2.73 trillion (0.618 Fibonacci) and $2.89 trillion (1.0 Fibonacci). A failure at current levels could push the cap toward $2.64 trillion or the $2.58 trillion zone. U.S. naval operations in the region remain in force.

Bitcoin was trading near $81,519, up about 2% over 24 hours and roughly 22% over 30 days. The price has risen since mid-April while daily trading volume has declined, creating a divergence between price and volume. Key resistance levels are $82,243 (0.5 Fibonacci) and $83,973 (0.618 Fibonacci). Sustained trading above $83,973 would open targets near $86,435 and $89,571. On the downside, $80,514 and $78,374 are the next meaningful supports.

Strategy Executive Chairman Michael Saylor indicated the firm may sell Bitcoin to fund dividends, reversing the company’s prior “never sell” stance. MicroStrategy shares fell more than 4% in after-hours trading. A prediction market priced roughly a 48% chance the company sells any Bitcoin by year-end. The announcement introduces a potential source of corporate selling.

Zcash traded around $523 after the 22% one-day gain and was up about 80% over 30 days. The Zcash rally occurred alongside rising trading volume between mid-April and early May. The token cleared the $500 mark and sits below a 1.618 Fibonacci extension near $564; a daily close above $564 would point to a 2.618 extension near $728. Immediate support levels are about $462 and $427.

Equity markets moved with crypto: the S&P 500 closed up 0.81% and the technology sector led gains at 1.34%. Brent crude fell about 1.8% to $107.88 and U.S. West Texas Intermediate fell about 1.7% to $100.51. Lower oil prices coincided with capital moving back into risk assets, including Bitcoin and select altcoins.

Meme tokens tied to the Trump brand rose after Eric Trump unveiled the official logo for the renamed Donald J. Trump International Airport. TRUMP gained about 3.75%, MAGA rose about 3.29%, and TrumpCoin (DJT) added roughly 1.1%.

On-chain and technical considerations remain in focus. A confirmed daily close above the 0.5 Fibonacci for total crypto market cap would open the path to higher Fibonacci levels, while a rejection at that level would expose lower supports. For Bitcoin, the divergence between price and trading volume and any large on-chain sales could affect near-term supply and demand balances.