Geopolitics Alpha

Zcash leads crypto majors with a 10% gain as bitcoin holds near $87,000

Published . Updated .

Falling oil eased inflation worries through the Asian session, while a bill to make the government's bitcoin stockpile permanent moved further through Congress than any before it.

Directly affected

  • CRCW Crypto

    Named in this report.

Indirectly affected

  • IBIT iShares Bitcoin Trust

    This price moves with the crypto market

  • COIN Coinbase

    The crypto exchange moves with trading volumes

  • MSTR Strategy

    This company's value is tied to its bitcoin holdings

  • MARA MARA Holdings

    Bitcoin miners move with the bitcoin price

  • XOM Exxon Mobil

    Oil producers earn more when crude prices rise

  • CVX Chevron

    Oil producers earn more when crude prices rise

  • RIOT Riot Platforms

    Bitcoin miners move with the bitcoin price

  • HOOD Robinhood

    Retail trading apps move with crypto volumes

  • OXY Occidental Petroleum

    Oil producers earn more when crude prices rise

  • COP ConocoPhillips

    Oil producers earn more when crude prices rise

Price reaction, T-5 to T+3

TickerT-5T-3T-1T0T+1T+2T+3
CRCW———————
IBIT———————
COIN———————
MSTR———————
MARA———————
XOM———————
CVX———————
RIOT———————
HOOD———————
OXY———————
COP———————

Falling oil eased inflation worries through the Asian session, while a bill to make the government's bitcoin stockpile permanent moved further through Congress than any before it.

Source: CoinDesk

The price since 23 Sep 2026: United States Oil Fund (USO) versus the S&P 500

Since the first closing price after “Zcash leads crypto majors with a 10% gain as bitcoin holds near $87,000,” United States Oil Fund (USO) is +5.01%. The S&P 500 fund (SPY) is -0.09% over the same days, a +5.10% difference versus the market. energy stocks (XLE) is +8.29%, a -3.28% difference versus that group of stocks.

USO
SPY
XLE

Who gains and who loses around United States Oil Fund (USO)

Companies tied to this story

  • USO United States Oil Fund

    For “Zcash leads crypto majors with a 10% gain as bitcoin holds near $87,000,” United States Oil Fund (USO) is linked, with no stored direction, high confidence. Reason on file: Oil-supply or crude-price developments can transmit through WTI/Brent proxies and energy producer earnings expectations

  • BNO United States Brent Oil Fund

    For “Zcash leads crypto majors with a 10% gain as bitcoin holds near $87,000,” United States Brent Oil Fund (BNO) is linked, with no stored direction, high confidence. Reason on file: Oil-supply or crude-price developments can transmit through WTI/Brent proxies and energy producer earnings expectations

  • XLE Select Sector Spdr Tr

    For “Zcash leads crypto majors with a 10% gain as bitcoin holds near $87,000,” Select Sector Spdr Tr (XLE) is linked, with no stored direction, high confidence. Reason on file: Oil-supply or crude-price developments can transmit through WTI/Brent proxies and energy producer earnings expectations

  • XOP State Street Spdr S&P Oil & Gas Exploration & Production Etf

    For “Zcash leads crypto majors with a 10% gain as bitcoin holds near $87,000,” State Street Spdr S&P Oil & Gas Exploration & Production Etf (XOP) is linked, with no stored direction, high confidence. Reason on file: Oil-supply or crude-price developments can transmit through WTI/Brent proxies and energy producer earnings expectations

  • UGA United States Gasoline Fund

    United States Gasoline Fund (UGA) is linked, with no stored direction, medium confidence in the 23 Sep 2026 story “Zcash leads crypto majors with a 10% gain as bitcoin holds near $87,000.” Reason on file: Higher fuel and transport costs can propagate into commodity inputs, consumer margins, credit conditions, and interest-rate expectations

  • GSG iShares S&P GSCI Commodity-Indexed Trust

    iShares S&P GSCI Commodity-Indexed Trust (GSG) is linked, with no stored direction, medium confidence in the 23 Sep 2026 story “Zcash leads crypto majors with a 10% gain as bitcoin holds near $87,000.” Reason on file: Higher fuel and transport costs can propagate into commodity inputs, consumer margins, credit conditions, and interest-rate expectations

  • DBA Invesco Db Agriculture Fund

    In “Zcash leads crypto majors with a 10% gain as bitcoin holds near $87,000,” Invesco Db Agriculture Fund (DBA) is linked, with no stored direction, medium confidence. Reason on file: Higher fuel and transport costs can propagate into commodity inputs, consumer margins, credit conditions, and interest-rate expectations

  • MOO Vaneck Etf Trust

    For “Zcash leads crypto majors with a 10% gain as bitcoin holds near $87,000,” Vaneck Etf Trust (MOO) is linked, with no stored direction, medium confidence. Reason on file: Higher fuel and transport costs can propagate into commodity inputs, consumer margins, credit conditions, and interest-rate expectations

United States Oil Fund (USO) and the energy link

“Zcash leads crypto majors with a 10% gain as bitcoin holds near $87,000” (23 Sep 2026) reaches United States Oil Fund (USO) through Energy.

For United States Oil Fund (USO), the reason on file says Oil-supply or crude-price developments can transmit through WTI/Brent proxies and energy producer earnings expectations

Also listed, United States Brent Oil Fund (BNO): Oil-supply or crude-price developments can transmit through WTI/Brent proxies and energy producer earnings expectations

What this energy story puts on the calendar

BNO traded between 57.39 and 67.79 across 20 sessions. The latest close on file is 67.10. USO traded between 141.82 and 162.99 across 20 sessions. The latest close on file is 160.80. XLE traded between 60.95 and 68.51 across 20 sessions. The latest close on file is 67.80.

How strong the case is around United States Oil Fund (USO)

46 out of 100

“Zcash leads crypto majors with a 10% gain as bitcoin holds near $87,000” scores 46 out of 100. The score uses 1 sources, and 19 linked companies.