Zcash traded at $1,333.50 on Thursday, about 21% below its late-September peak of $1,698.00, and was down 7.29% on the day with about three hours remaining before the daily close. According to NS3.AI, Grayscale’s Zcash ETF recorded a $30.25 million net outflow on Wednesday.

The recent decline suggests a sharp correction, although longer-term trend indicators remain bullish. A daily close below $1,233.00 would bring a deeper pullback into focus, while a move back above $1,410.72 would put the rally back on track.