TL;DR
- Zcash fell below $1,000 during the market selloff, with CoinMarketCap later showing ZEC near $1,002 and down about 12.7% over 24 hours.
- Bitcoin dropped below $73,000 after hotter-than-expected October U.S. CPI data, while Ethereum approached the $2,000 level before recovering modestly.
- The broader crypto market lost roughly $40 billion in the earlier snapshot, while ZEC’s decline stood out as one of the sharpest among large-cap assets during the volatile session.
Zcash fell below $1,000 as the broader crypto market weakened after hotter-than-expected U.S. inflation data pressured Bitcoin and Ethereum. CoinMarketCap showed ZEC near $1,002.52 at drafting time, down about 12.7% over 24 hours after trading as low as $1,001.45. The move erased Zcash’s recent four-digit price cushion while broader risk assets remained under pressure. Bitcoin traded near $73,691, while Ethereum hovered around $2,063. The decline returns Zcash to focus after weeks of elevated volatility and recent network upgrades.
ZEC Leads Losses as Bitcoin Struggles Below $74K
The earlier market snapshot showed ZEC falling about 13% and slipping below $1,000 for the first time since early September. Bitcoin had already been trading around $74,000 before the October CPI release, then fell below $73,000 after the monthly headline and core readings came in above expectations. The timing links the broader selloff with the inflation surprise, but it does not establish CPI as the sole cause of Zcash’s decline. Bitcoin later recovered part of the move but remained below $74,000, extending the pressure described in Bitcoin’s post-CPI selloff.
Ethereum also came close to losing the $2,000 level during the downturn. CoinMarketCap’s live reading later placed ETH near $2,063, with a 24-hour low around $2,005. Ethereum’s recovery above $2,000 remained modest compared with the scale of the preceding decline. Other large-cap assets also stayed under pressure, while Bitcoin dominance increased slightly in the earlier snapshot. The move followed a volatile period for privacy assets after Zcash’s NU7 activation, which had already kept ZEC in focus.
Zcash’s live price remained close to the psychological $1,000 threshold, with CoinMarketCap showing a 24-hour range of roughly $1,001 to $1,194. Its market capitalization stood near $17 billion, while 24-hour volume was about $1.41 billion. The combination of a double-digit daily decline and elevated turnover points to unusually active trading around the $1,000 area, without proving whether sellers or buyers will dominate next. ZEC’s latest pullback also follows earlier episodes where leverage amplified post-rally volatility, reinforcing the need to separate marketwide pressure from token-specific positioning. The earlier snapshot placed total crypto market capitalization at $2.45 trillion after losing another $40 billion in a day. Monero and Avalanche were exceptions to the weakness, while most other large-cap tokens remained lower. That split shows the CPI-driven risk-off move was broad but not uniform across the market that day overall.
