# Bitcoin slips under $78,000 as Near Protocol and Zcash maintain upward momentum

> Cryptocurrency markets experienced a mixed session on Thursday, with Bitcoin extending its recent pullback below the $78,000 mark. Meanwhile, altcoins like Near Protocol and Zcash managed to sustain their gains amid shifting macroeconomic conditions.

**Type:** article · **Category:** Crypto · **Published:** 2026-09-10 · **Source:** TrendKia
**Canonical:** https://trendkia.com/en/crypto/bitcoin-slips-under-78-000-as-near-protocol-and-zcash-maintain-upward-momentum-30659 · **Language:** English
**Tags:** Bitcoin, Crypto Market, Near Protocol, Zcash, Crypto News, Bitcoin Price, Blockchain, finance

Cryptocurrency markets faced a cautious trading environment on Thursday, as flagship digital asset Bitcoin extended its near-term corrective phase for the fourth consecutive session. While macroeconomic pressures and shifting market sentiments influenced top tokens differently, select altcoins demonstrated resilience by holding on to their recent gains.

## Bitcoin Price Action and Technical Levels
Bitcoin traded below $78,000 on Thursday, reflecting a persistent corrective tone in the broader market. CoinMarketCap's Fear and Greed index registered a reading of 70, indicating that while a risk-on sentiment persists, it has moderated from the reading of 78 seen the previous week. From a technical perspective, the Relative Strength Index (RSI) eased to approximately 58, stepping down from overbought territory, while the Moving Average Convergence Divergence (MACD) drifted below the signal line to signal slowing upside momentum. On the downside, initial support rests around $75,233, which marks the 50% retracement of the downswing from $97,924 to $57,800. Further support is anchored near the 200-day EMA at roughly $73,011, providing a medium-term floor. Deeper pullbacks could test the 50-day EMA near $72,762 and the 100-day EMA around $70,731, where buyers are expected to defend the broader bullish structure.

## Treasury Debt Operations and Macro Context
In broader financial markets, the US Treasury increased its buyback operations to $6 billion in long-term debt aimed at addressing rising bond yields. Despite this intervention, the US bond market shrugged off the move as yields continued to climb, with analysts pointing to ongoing geopolitical tensions involving Iran as a factor rendering the step insufficient. This macroeconomic backdrop has contributed to a more measured approach among crypto investors, keeping volatile movements in check across major asset classes.

## Near Protocol and Zcash Performance
Bucking the broader weakness in flagship assets, specific altcoins like Near Protocol and Zcash emerged as notable performers over the 24-hour window. Near Protocol changed hands around $2.44 on Thursday, maintaining a solid near-term bullish bias while holding comfortably above its cluster of 50-, 100-, and 200-day EMAs situated between $1.83 and $1.95. The RSI near 69 suggests strong upside momentum, with immediate resistance pegged at the 78.6% Fibonacci retracement level of $2.65. Meanwhile, Zcash held well above the $1,200 threshold, backed by a strong bullish alignment where the 50-day EMA at $765 sits above the 100-day EMA at $640 and the 200-day EMA at $530. With an overheated RSI hovering around 75, Zcash faces potential corrective tests near the $1,200 psychological support zone, while upper targets eye pivot resistance levels at $1,435 and $1,709.

## What this means for you
Recent fluctuations across cryptocurrency markets directly impact retail investors and active traders holding digital assets.

- **For Crypto Investors:** Ongoing pullbacks in Bitcoin and mixed movements in altcoins can cause short-term portfolio revaluations. Traders should monitor key technical support levels and broader volatility before executing new positions.
- **Risk Management:** Broader macroeconomic factors and shifting bond yields influence risk-on sentiment across digital assets. Investors are advised to carefully evaluate their risk tolerance and employ disciplined risk controls.

## Why this happened
The recent pullback in Bitcoin and sustained gains in select altcoins stem from a combination of macroeconomic conditions and technical market dynamics.

- **Rising Bond Yields:** Despite the US Treasury increasing its buyback operations to $6 billion in long-term debt, broader bond yields continued to climb.
- **Geopolitical Pressures:** Ongoing tensions involving Iran created additional uncertainties that influenced broader market sentiment.
- **Technical Corrections:** Bitcoin experienced a four-day corrective pullback as indicators like the RSI retreated from overbought territory, prompting traders to lock in gains or reposition.

## Questions & Answers

### 1. Where was Bitcoin trading on Thursday?
Bitcoin was trading below the $78,000 threshold on Thursday.

### 2. Which altcoins sustained their gains over the 24-hour period?
Near Protocol and Zcash sustained their gains and emerged as top performers.

### 3. To what amount did the US Treasury increase its buyback operations?
The US Treasury increased its buyback operations in long-term debt to $6 billion.

### 4. What was the reading on CoinMarketCap's Fear and Greed index?
The index registered a reading of 70, down from 78 the previous week.

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