Privacy narrative is dumping again and people are confused.

$ZEC is down hard after the NU7 upgrade.

This is classic sell, the news and leveraged longs getting liquidated broader risk off from the hot CPI.

Privacy coins always do this.

They pump hard on narrative and upgrades, then unwind violently because:

Most of the strength is attention, not actual private tx volume

Leverage piles in fast

Liquidity is thinner than people think

Regulatory overhang never really goes away.