Zcash just hit the classic “buy the rumor, sell the news” setup. $ZEC dropped 7.6% to around $787 after a massive 56% weekly rally pushed it to an eight-year high near $880. The catalyst finally arrived: Grayscale’s Zcash Trust converted into a spot ETF and began trading on NYSE Arca under $ZCSH, holding up to 393,000 ZEC worth more than $260M. $ZEC ripped from below $600 to above $880 ahead of the listing, fueled by ETF anticipation and the “next Bitcoin” narrative around its 21M supply cap and proof-of-work design. But leverage has exploded alongside the rally. ZEC perpetual futures open interest nearly doubled to 1.8B, meaning the same leverage that accelerated the upside could amplify the downside. With Bitcoin also down around 2% near $78,900, the broader market isn’t providing much support. The ETF is live. The question now is whether can absorb the profit-taking and reclaim $880, or whether crowded longs turn this into a much deeper flush. #Altcoin Season# #ZEC