Privacy was supposed to be macro-proof. I'm watching ZEC fall 15% on a CPI print.
October CPI came in hot — 0.4% vs 0.3% expected — and December hike odds hit 85%. Bitcoin slipped toward $73,600, $723 million liquidated. ZEC led the slide: $972, down 15.6% today, 26% off the Nov 6 close, on $1.3B of volume.
The sting: yesterday Grayscale pledged $1 million to the ecosystem, launched Zcash Invest and a national ad campaign, WSJ wrap included. The tape answered with a 10% down day.
Three ways out. One: $966 holds, a close above $1,045 reclaims the Nov 10 close. Two: a daily close under $966 breaks the flush low, and $1,000 turns from floor to ceiling. Three: it chops between the two until the CPI dust settles.
Support $966, then air. Resistance $1,045, then $1,164. What kills this read: ZEC reclaiming $1,000 on real volume while Bitcoin slides — then the privacy bid is real and the flush was just leverage.
If the privacy premium can't survive one hot CPI print, what was it pricing?
NFA, DYOR.
$ZEC #Zcash #Privacy #CPI #CryptoMarkets
October CPI came in hot — 0.4% vs 0.3% expected — and December hike odds hit 85%. Bitcoin slipped toward $73,600, $723 million liquidated. ZEC led the slide: $972, down 15.6% today, 26% off the Nov 6 close, on $1.3B of volume.
The sting: yesterday Grayscale pledged $1 million to the ecosystem, launched Zcash Invest and a national ad campaign, WSJ wrap included. The tape answered with a 10% down day.
Three ways out. One: $966 holds, a close above $1,045 reclaims the Nov 10 close. Two: a daily close under $966 breaks the flush low, and $1,000 turns from floor to ceiling. Three: it chops between the two until the CPI dust settles.
Support $966, then air. Resistance $1,045, then $1,164. What kills this read: ZEC reclaiming $1,000 on real volume while Bitcoin slides — then the privacy bid is real and the flush was just leverage.
If the privacy premium can't survive one hot CPI print, what was it pricing?
NFA, DYOR.
$ZEC #Zcash #Privacy #CPI #CryptoMarkets
