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Zcash skyrockets 30% and reduces massive liquidations behind Bitcoin

Cryptos are bringing a new episode of extreme volatility, and Zcash is at the center. At certain hours, the token has bounced back 30%, decreasing tens of millions of dollars in liquidations and massively threatening short sellers. This brutal move goes beyond just a simple imbalance technique. It fits into the context of active cryptocurrencies in the privacy space and influences new market dynamics.

Zcash records a brutal uptick of 30% at certain hours, throwing a big party in the market.

A wave of liquidations reaches approximately 62 million dollars, primarily hitting short sellers.

A short squeeze amplifies the uptick, fueled by positioning forces and high trading volume.

The recovery of information on cryptocurrencies activated in privacy is pending the movement, written by institutional players.

Most of these losses pertain to short positions, indicating an imbalance. This pressure on Zcash, being the second most liquid asset just behind Bitcoin, illustrates the violence of the observed move.

Indeed, traders exposed to the downside have been forced to cover their positions in a rush. This mechanism amplifies the dynamism of the uptick, fueled by a 24-hour trading volume estimated at 1.3 billion dollars. Moreover, this type of setup, typical of trading with high leverage, reveals the sensitivity of speculative positions to rapid and unexpected moves.

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