Bitcoin (BTC) Price Shackled, Zcash (ZEC) Outperforms Before Fed: Crypto Daybook Americas

The cryptocurrency market on December 9, 2025, showed a lack of clear direction, with Bitcoin consolidating between $90,000 and $95,000, and broader indexes like the CoinDesk 20 declining. This lackluster trading is attributed to traders deferring bullish bets until after the Federal Reserve's interest-rate meeting concludes tomorrow, where a 25 basis-point cut is priced in, but hawkish forward guidance remains a concern. Zcash (ZEC) was a notable exception, gaining over 3% in 24 hours. Technical analysis suggests Bitcoin's recent upward movement is a temporary relief rally within a broader downtrend, needing to break $96,600 to confirm a bullish reversal. Furthermore, spot market sentiment remains bearish, indicated by falling Cumulative Volume Delta (CVD), while Ethereum founder Vitalik Buterin's proposal for on-chain gas futures is gaining attention.

(Source：CoinDesk)