Zcash (ZEC) fell 4% over 24 hours, sliding from around $441 to $421 as traders took profits after a staggering 10x rally in recent months.
Even with the drop, ZEC remains up roughly 16% over the past week, framing this as a healthy pullback rather than a trend reversal.
The pullback comes after ZEC led the privacy coin surge, boosted by tightening European surveillance rules and renewed interest in zero-knowledge tech. Despite the excitement, Zcash itself saw no protocol upgrades, network incidents, or exchange moves over the past 24 hours. Its decline is driven by broader market dynamics rather than coin-specific news.
Macro conditions reinforced caution. The Fed’s widely anticipated 25 basis point rate cut offered little fresh momentum, while Bitcoin struggled near $94,000 resistance.
Altcoins remain largely lagging, with CoinMarketCap’s altcoin season index at just 16 out of 100, firmly in Bitcoin season. In such a range-bound, Bitcoin-led market, even high-performing coins like ZEC are vulnerable to modest retracements.
Intraday action showed classic profit-taking: ZEC dipped to $395.96 before rebounding above $420, with trading volume cooling mid-session and recovering slightly by the close. This pattern points to cooling speculative activity rather than panic selling.
In short, ZEC’s 4% pullback is a natural correction for an overextended privacy-sector leader in a cautious market.
Traders harvested gains while dip buyers stepped in, keeping the token firmly in its ongoing upward narrative.
