Zcash just handed back everything it gained yesterday — down about 6% to roughly $1,266 — and honestly that tells me more about this market than Bitcoin sitting flat at $75,800.
Yesterday Zcash was the hero, up 5% to $1,330 while everything else bled. Today it's the biggest loser among the majors. That's not a broken thesis, it's a crowded trade catching its breath — it ran from under $1,000 to nearly $1,400 in a matter of weeks, and every momentum name eventually gives some of it back. The real question is whether the $1,200 area holds as a higher low, or whether yesterday's buyers were the last ones in.
Meanwhile the quiet winner is Uniswap, up 3.5% to $7.12 — the top gainer in the top 100 today — while Bitcoin does nothing and the total market cap sits at $2.54 trillion. Nobody's talking about Uniswap, which is usually when I start paying attention.
What I'm watching into tonight's weekly close: Bitcoin has to hold $75,000. Lose that on the weekly candle and the 200-day average comes into play next week. Hold it, and this whole week starts looking like a shakeout instead of a breakdown.
Are you buying the Zcash dip, or is the privacy run finally over?
$ZEC $UNI
Yesterday Zcash was the hero, up 5% to $1,330 while everything else bled. Today it's the biggest loser among the majors. That's not a broken thesis, it's a crowded trade catching its breath — it ran from under $1,000 to nearly $1,400 in a matter of weeks, and every momentum name eventually gives some of it back. The real question is whether the $1,200 area holds as a higher low, or whether yesterday's buyers were the last ones in.
Meanwhile the quiet winner is Uniswap, up 3.5% to $7.12 — the top gainer in the top 100 today — while Bitcoin does nothing and the total market cap sits at $2.54 trillion. Nobody's talking about Uniswap, which is usually when I start paying attention.
What I'm watching into tonight's weekly close: Bitcoin has to hold $75,000. Lose that on the weekly candle and the 200-day average comes into play next week. Hold it, and this whole week starts looking like a shakeout instead of a breakdown.
Are you buying the Zcash dip, or is the privacy run finally over?
$ZEC $UNI
