Bitcoin News Today: Institutional Demand and ETFs Drive Bitcoin Toward $150K as Zcash Surges on Privacy Push

Bitcoin's recent price action has drawn significant attention as it consolidates above key support levels, with analysts forecasting potential moves toward $150,000. The cryptocurrency rebounded from the $108,000 support zone, a critical threshold that has repeatedly acted as a psychological and technical floor. Fibonacci analysis suggests a target of $135,000 initially, with room to extend to $150,000 if momentum holds. Institutional demand, exemplified by Japan's Metaplanet, has further bolstered the bullish case. The company, now holding 20,000 BTC ($2 billion), has adopted a strategic accumulation approach, reinforcing Bitcoin's role as a reserve asset. Meanwhile, U.S. spot ETFs, including BlackRock's IBIT, have attracted over $57 billion in assets, creating a structural demand tailwind.

Zcash (ZEC) emerged as the week's standout performer, surging 41% to a 16-month high of $97.25. This rally was driven by renewed interest in privacy-focused assets and strategic developments within the Zcash ecosystem. The return of Zcash founder Zooko Wilcox to lead its development, coupled with MetaMask's integration of Zcash, provided a catalyst. MetaMask's $150,000 grant for a Zcash Snap to support shielded transactions underscored the project's growing institutional credibility. Privacy coins like Zcash and Monero (XMR) gained traction amid broader concerns over digital privacy, with Zcash's zero-knowledge proofs addressing transparency limitations in mainstream cryptocurrencies.

Decentralized Finance (DeFi) played a pivotal role in the market's momentum, with tokens like Ethena (ENA), Curve (CRV), and Raydium (RAY) posting double-digit gains. The integration of Zcash into MetaMask expanded its utility within DeFi, enabling users to manage shielded transactions directly through the popular wallet. This development aligns with broader trends of blockchain interoperability and enhanced privacy features, which are reshaping the DeFi landscape.

Market dynamics were further influenced by macroeconomic factors. A looming U.S. government shutdown weakened the dollar, pushing gold to record highs and creating a favorable risk environment for crypto. While Bitcoin and Ethereum (ETH) saw gains of 2.9% and 3.1%, respectively, altcoins outperformed, reflecting speculative positioning ahead of a potential "altcoin season." However, rising RSI levels across the market signaled approaching overbought territory, hinting at possible consolidation.

Analysts remain divided on Bitcoin's near-term trajectory. Jon Najarian of Market Rebellion projected $125,000 by November, citing anticipated rate cuts, while Sam Price of Crypto Lifers estimated a $152,000 target before September, driven by bullish technical patterns. Despite volatility, the consensus leans toward a continuation of the bull market, with institutional adoption and ETF flows as key drivers. The GENIUS Act in the U.S. and MiCA in the EU are expected to provide regulatory clarity, further legitimizing crypto as an asset class.

[1] Bitcoin Price Prediction: BTC Eyeing $150K Despite Bearish Conditions (https://www.thecoinrepublic.com/2025/09/02/bitcoin-price-prediction-btc-eyeing-150k-despite-bearish-conditions/)

[2] Can Bitcoin's Price Hit $150,000 In 2025? Analyzing (https://www.forbes.com/sites/digital-assets/article/can-bitcoin-price-hit-150000-2025/)

[6] Crypto Markets Today: Market Rallies, Altcoins Lead Gains; Zcash Hits 16-Month High (https://www.coindesk.com/markets/2025/10/01/crypto-markets-today-market-rallies-altcoins-lead-gains-zcash-hits-16-month-high)

[7] Why ZCash Surged to the Top of Crypto Charts Last Week: Key Factors Behind the Rally (https://thecurrencyanalytics.com/altcoins/why-zcash-surged-to-the-top-of-crypto-charts-last-week-key-factors-behind-the-rally-130850)

[11] Crypto Catalysts 2025: The Upgrades, Votes, and Deadlines That Could Actually Move the Needle (https://crypto30x.com/crypto-catalysts-2025/)

[12] Comparative Study of EU vs US Crypto Regulation 2025 (https://store.aicerts.ai/blog/eu-vs-us-crypto-regulation-a-comparative-analysis-for-2025/)