Altcoins outpaced Bitcoin on Sept. 3 as Zcash, XRP and BNB posted the sharpest gains of the day. Zcash's rally pushed the token toward a rebound and a possible run at $900, while gold, elevated inflation and soft labor data fed rate-cut bets across risk assets.
Bitcoin gained just 2% over the past 24 hours while several altcoins posted far stronger moves, pointing to capital rotating away from the market leader. The total crypto market cap still climbed to $2.7 trillion, up 0.9% on the day, with $73.5 billion in trading volume.
Zcash, XRP and BNB outpace Bitcoin
Zcash climbed 6.3% over 24 hours and 8.2% over the week to trade at $851.99, the sharpest move among major tokens. XRP followed with a 4.8% daily gain to $1.39 on 7-day volume of $2.59 billion. BNB rose 4.5% to $711.78. Ethereum traded at $2,426.89, up 1.9% daily but down 3.1% over the week. Solana added 3.8% to reach $101.47.
Zcash rebounds toward $900 resistance
Zcash's rally accelerated further on Sept. 3, when the token rebounded toward $847 after buyers defended the $780–$800 zone, extending a run-up from roughly $500 in the second half of August. The token remains above its 20-, 50-, 100- and 200-day moving averages, even as a daily RSI near 70 shows the broader rally remains overextended. A 4-hour close above $870 would put the $880–$890 area back in focus, with $900 as the next target, pseudonymous trader Altcoin Sherpa said. According to Altcoin Sherpa: "we're in the 1k waiting room and mostly dependent on bitcoin imo".
Gold, inflation and soft jobs data fuel the rotation
The move coincides with gold futures surging above $4,500 an ounce, adding more than $1 trillion in market cap in a single day, as inflation stayed above the Federal Reserve's 2% target for 65 consecutive months. Jobless claims came in at 206,000 against a forecast of 205,000, while ADP payrolls rose just 38,000 versus an expected 47,000. Kobeissi described the results as a double miss that strengthens the case for a Fed rate cut, a dynamic historically supportive of risk assets including crypto. Still, according to Wu Blockchain, US spot Bitcoin ETFs pulled in $101 million in net inflows on Sept. 2, led by BlackRock's IBIT with $115 million, even as spot Ether ETFs saw $48.08 million in net outflows.
Bitcoin has just entered September, historically its weakest month with an average return of -2.92%, while October has averaged +19.92%, posting gains in 10 of the last 13 years, according to trader Crypto Rover.
Sources: Coinpedia Fintech News, crypto.news
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