🚨 ZCASH PLUNGES BELOW $1,000 — BRUTAL 24-HOUR DROP
$ZEC suffered a massive wave of selling: it fell from around $1,300 to $950 in a single day. That represents a drop of nearly 27%, wiping hundreds of millions of dollars off its market value.
This is the first time Zcash has fallen below $1,000 since September.
Liquidation pressure made the move worse. Over the past 24 hours, approximately $35.7 million in leveraged long positions were liquidated, accelerating the decline.
U.S. CPI data came in higher than expected, adding pressure to an already weakened market. Privacy coins also faced aggressive selling.
Not even Grayscale's commitment to invest $1 million in the Zcash ecosystem managed to stop the decline.
The key question: after such an aggressive rally, is this just a healthy correction or the start of a deeper crash?
Most people react once the red candle is confirmed. Those who anticipate the structure act sooner.
Save this post and track the behavior of $ZEC over the coming sessions.
Click here to trade 👉 $ZEC
#ZEC #Crypto #Altcoins
$ZEC suffered a massive wave of selling: it fell from around $1,300 to $950 in a single day. That represents a drop of nearly 27%, wiping hundreds of millions of dollars off its market value.
This is the first time Zcash has fallen below $1,000 since September.
Liquidation pressure made the move worse. Over the past 24 hours, approximately $35.7 million in leveraged long positions were liquidated, accelerating the decline.
U.S. CPI data came in higher than expected, adding pressure to an already weakened market. Privacy coins also faced aggressive selling.
Not even Grayscale's commitment to invest $1 million in the Zcash ecosystem managed to stop the decline.
The key question: after such an aggressive rally, is this just a healthy correction or the start of a deeper crash?
Most people react once the red candle is confirmed. Those who anticipate the structure act sooner.
Save this post and track the behavior of $ZEC over the coming sessions.
Click here to trade 👉 $ZEC
#ZEC #Crypto #Altcoins
