I took a second look at ZEC’s bearish candle—not because the drop was especially sharp, but because the volume was huge.
Spot was around 1,035, down about 12% in a day. The intraday low hit 994, briefly dipping below $1,000.
Futures trading volume was about 2.58 billion U, and spot volume was also 250 million.
The number of open contracts barely changed; notional value fell about 11% along with the price, and the funding rate was close to flat.
U.S. October CPI rose 0.4% month over month, above expectations, and risk appetite is cooling.
The privacy trade is also giving back gains. For now, I’m treating this as sentiment cooling, not tying it to a new narrative.
$ZEC #Zcash #Macro
Personal opinion only; not investment advice
Spot was around 1,035, down about 12% in a day. The intraday low hit 994, briefly dipping below $1,000.
Futures trading volume was about 2.58 billion U, and spot volume was also 250 million.
The number of open contracts barely changed; notional value fell about 11% along with the price, and the funding rate was close to flat.
U.S. October CPI rose 0.4% month over month, above expectations, and risk appetite is cooling.
The privacy trade is also giving back gains. For now, I’m treating this as sentiment cooling, not tying it to a new narrative.
$ZEC #Zcash #Macro
Personal opinion only; not investment advice