🚨 Zcash $ZEC is under heavy selling pressure!
Grayscale’s U.S.-listed Zcash ETF $ZCSH reportedly saw $93.6M in outflows, marking its first major weekly redemption.
At the same time, $ZEC dropped around 23% from its recent high to roughly $1,300 📉
The combination of large ETF outflows and the sharp price decline suggests that investors are taking profits after ZEC’s huge run-up.
🔴 $93.6M ETF outflow
📉 23% decline from the recent peak
💰 ~$1,300 ZEC price
Big money is selling — and the market is feeling the pressure.#BitcoinRejectedAt$87K $SPCX
Grayscale’s U.S.-listed Zcash ETF $ZCSH reportedly saw $93.6M in outflows, marking its first major weekly redemption.
At the same time, $ZEC dropped around 23% from its recent high to roughly $1,300 📉
The combination of large ETF outflows and the sharp price decline suggests that investors are taking profits after ZEC’s huge run-up.
🔴 $93.6M ETF outflow
📉 23% decline from the recent peak
💰 ~$1,300 ZEC price
Big money is selling — and the market is feeling the pressure.#BitcoinRejectedAt$87K $SPCX