ZEC, XMR, DASH Lead Privacy Coin Rally as Bitcoin Hits $120K
Zcash, up over 130% since Sept. 25, fueled a privacy coin rally on Oct. 2.
ZEC Leads the Rally On the day bitcoin (BTC) hit $120,000 for the first time since Aug. 14, privacy coins took the spotlight, with many posting double-digit gains. Zcash (ZEC), which had hit a three-year high 24 hours earlier, appeared to lead the charge after surging more than 20% on Oct. 2, briefly reaching $156.80 before retreating to $132 (1:30 p.m. EST). According to privacy coin market data from Coingecko, since September 25th, ZEC has seen its value increase by over 130%, the largest percentage increase among privacy coins.
As reported by Bitcoin.com News, ZEC’s rise has been attributed to a number of factors, including the announcement of the launch of Grayscale Zcash Trust (ZCSH). In addition to being seen as a major endorsement of ZEC, the announcement has been interpreted as a signal of growing institutional interest in the privacy coin sector. The introduction of cross-chain swap capabilities for zcash has been cited as another factor behind the sudden investor interest in the coin.
The newfound appreciation for the core value of privacy-focused cryptocurrencies also benefited Monero (XMR), which topped $340 for the first time since July 2025. XMR’s nearly 13% gain since September 25th has pushed its market cap above $6 billion, pushing it into the top 40 ranked digital assets.
Dash (DASH) continued its upward momentum with a 4.6% gain in 24 hours, bringing its weekly performance to an impressive 61%. Similar gains were seen in Decred (DCR) and Verge (XVG), which posted double-digit daily gains, bringing weekly returns to 21.9% and 43.8%, respectively.
Meanwhile, the third-ranked coin, Beldex (BDX), was one of the few privacy coins with negative weekly gains. Although up 1.2% in 24 hours, BDX’s price of $0.08036 at press time was 9.6% lower than on September 25. On the other hand, Zano (ZANO), ranked 6th, was down 3.5% after 24 hours, but was up 7.6% against the US dollar over a seven-day period.
The market cap of privacy coins jumped more than 21% to $10.3 billion on September 25. This increase was nearly 10 times the growth rate of the broader crypto market.
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Here are today's directional views from the global research desks of Trading Central! These are starting points for your own research to identify opportunities that make sense for you.
Please note that due to market volatility, some of the key levels may have already been reached and scenarios played out.
GBP/USD Intraday: the upside prevails.
Pivot:
1.3455
Our preference:
Long positions above 1.3455 with targets at 1.3525 & 1.3560 in extension.
Alternative scenario:
Below 1.3455 look for further downside with 1.3435 & 1.3410 as targets.
Comment:
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
EUR/USD Intraday: the upside prevails.
Pivot:
1.1720
Our preference:
Long positions above 1.1720 with targets at 1.1760 & 1.1780 in extension.
Alternative scenario:
Below 1.1720 look for further downside with 1.1705 & 1.1690 as targets.
Comment:
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
USD/CHF Intraday: the downside prevails.
Pivot:
0.7975
Our preference:
Short positions below 0.7975 with targets at 0.7945 & 0.7930 in extension.
Alternative scenario:
Above 0.7975 look for further upside with 0.7990 & 0.8000 as targets.
Comment:
The RSI is bearish and calls for further decline.
Euro Stoxx 50 (Eurex) (Z5) Intraday: the upside prevails.
Pivot:
5610.00
Our preference:
Long positions above 5610.00 with targets at 5719.00 & 5760.00 in extension.
Alternative scenario:
Below 5610.00 look for further downside with 5566.00 & 5534.00 as targets.
Comment:
The RSI shows upside momentum.
Gold Intraday: further advance.
Pivot:
3852.00
Our preference:
Long positions above 3852.00 with targets at 3894.00 & 3915.00 in extension.
Alternative scenario:
Below 3852.00 look for further downside with 3834.00 & 3819.00 as targets.
Comment:
The RSI advocates for further advance.
Dax (Eurex) (Z5) Intraday: the upside prevails.
Pivot:
24320.00
Our preference:
Long positions above 24320.00 with targets at 24750.00 & 24860.00 in extension.
Alternative scenario:
Below 24320.00 look for further downside with 24190.00 & 24049.00 as targets.
Comment:
The RSI shows upside momentum.
Cac 40 (Euronext) (V5) Intraday: further upside.
Pivot:
7980.00
Our preference:
Long positions above 7980.00 with targets at 8110.00 & 8160.00 in extension.
Alternative scenario:
Below 7980.00 look for further downside with 7936.00 & 7890.00 as targets.
Comment:
The immediate trend remains up and the momentum is strong.
Brent (ICE) (Z5) Intraday: under pressure.
Pivot:
65.85
Our preference:
Short positions below 65.85 with targets at 64.70 & 64.25 in extension.
Alternative scenario:
Above 65.85 look for further upside with 66.60 & 67.10 as targets.
Comment:
The immediate trend remains down and the momentum is strong.
Over the past several weeks, the EUR/USD pair has exhibited a neutral and directionless trend, indicating significant indecision among traders regarding the formation of a clear market direction.
From a fundamental perspective, the probability of a US government shutdown has increased in recent days, fostering greater caution among market participants. Should a shutdown occur, economic data releases would be postponed, a scenario that could provide a mild tailwind for EUR/USD.
Furthermore, declining Treasury yields—driven by safe-haven demand for bonds and softer expectations for Federal Reserve policy—coupled with a rise in gold as a safe-haven asset, are exerting additional downward pressure on the US dollar. On longer-term timeframes, such as the weekly chart, the overall trend is still interpreted as bullish; however, the upward momentum shows signs of weakening due to the price entering relatively overbought territory and the formation of candlestick patterns like the Spinning Top and Shooting Star.
Analysing the price action between the low of 0.95384 and the high of 1.19175, a harmonic AB=CD pattern appears to be forming, featuring 61.8/161.8 Fibonacci ratios, which suggests the potential for a price ceiling to form in this vicinity. In a bearish scenario, as long as the resistance zone of 1.19175-1.18700 holds, downward pressure may intensify. This outlook is supported by the aforementioned harmonic pattern, the relatively overbought conditions, and the recently formed candlestick formations.
Conversely, in the bullish scenario, the price has successfully broken a descending trendline and is currently positioned above the 21-period moving average. Overall, as long as the price remains above the key level of 1.16000, bullish sentiment is likely to persist among buyers, who will be targeting the resistance levels of 1.18100 and, in a more extended move, 1.18700 to achieve their objectives.
Your Daily Trading Strategy Check-in - Deriv Broker September 29, 2025 Newsletter
Here are today's directional views from the global research desks of Trading Central! These are starting points for your own research to identify opportunities that make sense for you.
GBP/USD Intraday: further advance. Pivot: 1.3385 Our preference: Long positions above 1.3385 with targets at 1.3465 & 1.3500 in extension. Alternative scenario: Below 1.3385 look for further downside with 1.3350 & 1.3320 as targets. Comment: The RSI is mixed to bullish.
Bitcoin and Ether ETFs End Week in Red as Outflows Surpass $660 Million.
Bitcoin exchange-traded funds (ETFs) saw a massive $418 million outflow, while ether ETFs saw their fifth straight day of withdrawals, totaling $248 million.
ETF Exodus Deepens: Bitcoin Funds Lose $418 Million, Ether Sees $248 Million in Outflows It was a week the ETF market would rather forget. Bitcoin and Ether funds closed significantly in the red on Friday, September 26, capping one of the most challenging periods of the month. Bitcoin ETFs experienced a $418.25 million outflow, marking the most significant daily loss of the week.
Fidelity’s FBTC took the brunt, shedding $300.41 million. Blackrock’s IBIT and Bitwise’s BITB followed with outflows of $37.25 million and $23.79 million, while Ark 21shares’ ARKB lost $17.81 million. Grayscale’s GBTC and Bitcoin Mini Trust contributed to the exodus with withdrawals of $17.14 million and $12.57 million.
Vaneck’s HODL completed the declines with a loss of $9.28 million. No funds registered inflows, making this a completely red session. Trading volumes were substantial, reaching $3.92 billion, but net assets declined to $143.56 billion.
Ether ETFs extended their losing streak to five days, with outflows of $248.31 million. BlackRock’s ETHA led the retreat, suffering a steep $199.87 million outflow, while Fidelity’s FETH lost $74.39 million.
There were only minor signs of resistance. Grayscale’s ETHE attracted $17.91 million in inflows and 21Shares’ TETH added $8.05 million, but these gains did little to offset the broader decline. It marked a brutal week for ether ETFs, with no days of net inflows. Total traded value reached $2.10 billion, while net assets closed at $26.01 billion.
The end of the week highlights a clear trend: investors are withdrawing capital from crypto ETFs in large numbers, reflecting caution after months of strong momentum. All eyes are now on next week to see if it will bring stabilization or if the wave of withdrawals continues.
Global Bitcoin Ponzi Scheme Leaves Investors With $63 Million in Losses.
A $200 million crypto Ponzi scheme has been revealed, exposing a vast global fraud that lured 90,000 investors with fake returns and funded outrageous luxury spending.
CEO Pleads Guilty in $200 Million Global Crypto Ponzi Scheme
The U.S. Department of Justice (DOJ) announced on September 17 that the chief executive of a global bitcoin investment initiative has admitted to orchestrating a fraudulent operation that defrauded thousands of people worldwide. Ramil Ventura Palafox, who ran Praetorian Group International (PGI), pleaded guilty to wire fraud and money laundering for operating what prosecutors described as a Ponzi scheme. Officials stated that the company’s marketing promised daily returns of up to 3%, but in reality, it was using new investors’ funds to pay off previous participants.
Court documents revealed the scale of the scheme: “From December 2019 to October 2021, at least 90,000 investors worldwide invested more than $201,000,000 in PGI, including at least $30,295,289 in fiat currency and at least 8,198 bitcoins worth $171,498,528.”
The DOJ added:
As a result of Palafox’s actions, investors suffered total losses of at least $ 62.69 million.
Prosecutors explained that Palafox designed a website that falsely reported increasing account balances to maintain the trust of victims, while funneling the money toward personal luxuries.
Investigators revealed that he purchased 20 exotic cars worth approximately $3 million, penthouses in hotels, and multi-million-dollar homes in Las Vegas and Los Angeles.
Officials also detailed how investor money was diverted for extravagant purchases and to enrich his relatives. “Palafox spent an additional $3 million of investor money to purchase clothing, watches, jewelry, and home furnishings from luxury retailers, including Louboutin, Neiman Marcus, Gucci, Versace, Ferragamo, Valentino, Cartier, Rolex, and Hermes, among others,” the Justice Department detailed, adding:
He transferred at least $800,000 in fiat currency, plus an additional 100 bitcoins, which were then valued at approximately $3.3 million, to a family member.
Palafox awaits sentencing on February 10, 2026, where he faces up to four decades in prison and has agreed to restitution of $62,692,007. A federal judge will ultimately decide his sentence after reviewing statutory guidelines and considerations.
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