It fell 11% in a day. $ZEC even dipped to 994 at its lowest, and only recovered to around 1038. I really didn’t expect it to drop this much in a single day.
Just 24 hours ago, it was around 1170—that’s a drop of over $130 in a day. I haven’t seen any bad news specific to ZEC, and CPI came in above expectations. Several post-market reviews said it was simply that risk appetite across the market had cooled, with high-volatility assets getting hit first. The gains from the NU7 rollout had already been completely erased, and today’s drop pushed it down another level.
$BTC didn’t fare much better, sliding to around 73880 after the data came out. It briefly broke below 1000 intraday, then recovered. The area around 1031 was the support level mentioned earlier, and the price is now right around there.
PPI is due Friday, and the rate decision is on December 9.
$ZEC #CPI
Just 24 hours ago, it was around 1170—that’s a drop of over $130 in a day. I haven’t seen any bad news specific to ZEC, and CPI came in above expectations. Several post-market reviews said it was simply that risk appetite across the market had cooled, with high-volatility assets getting hit first. The gains from the NU7 rollout had already been completely erased, and today’s drop pushed it down another level.
$BTC didn’t fare much better, sliding to around 73880 after the data came out. It briefly broke below 1000 intraday, then recovered. The area around 1031 was the support level mentioned earlier, and the price is now right around there.
PPI is due Friday, and the rate decision is on December 9.
$ZEC #CPI