Bitcoin nears $87,000 as U.S. reserve bill clears committee

Bitcoin was near $86,900 with a 1% gain over 24 hours. Zcash rose 10% to just above $1,616 during Wednesday Asian morning hours. CoinDesk data showed that Zcash had the largest gain among major tokens. XRP rose 6% to just above $1.62. HYPE rose 4% to nearly $97. DOGE rose 4%. Ether gained under 1%. BNB gained under 1%. SOL gained under 1%. TRX fell 1% and was the only large token to decline. Bonds rallied. Oil prices extended their decline. The yen weakened after the Bank of Japan raised rates in a divided decision. The decision signaled a gradual path toward tighter monetary policy. Some analysts said two Washington developments supported the market tone. The House Financial Services Committee approved the American Reserve Modernization Act by 28 votes to 21 on Sept. 17. The approval sent the bill toward a full House vote. The CLARITY Act remained stalled. The SEC used an innovation exemption to clear a path for onchain trading of tokenized U.S. stocks within a day. Dicarlo said the move lifted tokenization-linked tokens and broader confidence.