Zcash has fallen over 22% from last month's high of $1,689 to $1,313, entering a local bear market. The recently launched Grayscale Zcash ETF recorded over $26 million in outflows on Friday, its third consecutive day of outflows. The ETF has lost over $55 million this month after adding $245 million last month. Zcash's futures open interest fell to $2.5 billion from last month's high of over $3.4 billion. Technical indicators suggest that Zcash could fall further before rebounding, although the price remains above the Supertrend indicator and the 50-day moving average.