Zcash Price Prediction: Bearish ZEC Chart Pattern Faces Off Against Post-Quantum Upgrade

Zcash (ZEC) fell 5.7% to $1,172.84 in 24 hours, with trading volume between $749M-$803M. Its market cap is $19.9B. Recent volatility follows mixed ETF inflows and mining-related sales. The NU7 upgrade is in testing, aiming to reduce block times and introduce fee recycling. Institutional products like Grayscale's ZCSH and a proposed Winklevoss ETF are active.

Zcash (ZEC) dropped 16% in a week, with $17.76M in long futures liquidations, according to CoinGlass. Ripple Prime expanded perpetual swaps to 100+ markets. Tron Inc. filed a $200M offering to buy more TRX. Authorities seized domains and servers from a crypto scam targeting Russian speakers.

Bitcoin fell below $80,000, triggering $948M in crypto liquidations, with Ethereum and XRP also dropping. Inflation data and higher interest rates contributed to the selloff. Analysts note Bitcoin is testing key support levels. According to CoinGlass, 177,440 traders were liquidated in 24 hours, with longs accounting for 90.6%.

Nearly $1 billion in leveraged crypto positions were liquidated, causing a market-wide decline. Bitcoin (BTC) fell 3.2% to $80,957, Ethereum (ETH) dropped 5.8% to $2,365, and XRP decreased 5% to $1.31. The selloff was driven by forced liquidations and external factors like South Korean stock declines and U.S. inflation data.

Zcash (ZEC) fell 15% in a day, while Bitcoin (BTC) dropped 3% after higher-than-expected US inflation data. Analysts view the decline as a potential buying opportunity.

Arkham, a blockchain analytics firm, reported that $420B of Zcash (ZEC) volume is labeled, with over half of network transactions tied to known entities. ZEC price fell 12.14% to $1,098.53, while trading volume rose 22.22%. The report highlights the mix of shielded and transparent transfers on the Zcash network.