Bitcoin tops $81k, HYPE and ZEC hit record highs

The push past $81k alongside record highs in HYPE and ZEC signals broad-based risk appetite rather than a single-asset move, reinforcing the narrative that macro expectations—specifically rate cuts—are the primary driver. The fact that lesser-known tokens are joining the rally suggests liquidity is rotating beyond Bitcoin, which could indicate a healthier market structure if sustained. The key question is whether this momentum depends on continued dovish signals from central banks, or if on-chain activity can independently support these levels. Watching whether the rally broadens further or narrows back to large caps will clarify the market's underlying conviction.