Zcash Jumps Nearly 90% in a Month as Bitcoin Slips Below $78,000
According to CoinDesk, Zcash (ZEC) has been one of the few crypto assets showing clear upside momentum despite a broader market retreat. As Bitcoin dropped below $78,000 and risk appetite weakened across digital assets, ZEC extended gains over the past 24 hours and is up nearly 90% over the past month, far outpacing major tokens including Bitcoin, Ethereum and XRP.
Privacy and post-quantum expectations fuel ZEC
CoinDesk attributed the rally to a renewed market bid for privacy-oriented cryptocurrencies, with some investors rotating into assets perceived to have more independent narratives during the pullback. Zcash, long associated with privacy features, has benefited from that shift.
Another tailwind has been rising attention to Zcash's "post-quantum" roadmap. Josh Swihart, founder of the Zcash Open Development Lab, recently said the project is expected to reach full post-quantum status within the next 12 to 18 months, a timeline traders have treated as a medium- to long-term catalyst.
The report also pointed to large buy orders and short covering as additional drivers. A mix of short-term positioning adjustments and fresh demand helped keep ZEC firm even as the broader market weakened.
Bitcoin loses momentum after failing near $82,000
Bitcoin, by contrast, has struggled to sustain a rebound. CoinDesk said BTC pulled back after meeting resistance around $82,000, broke below $77,000, and gave up part of its gains since the start of the month.
Macro headwinds remain a key drag, with inflation concerns, higher U.S. Treasury yields and softer real wage dynamics weighing on risk assets. In crypto markets, that backdrop typically translates into more defensive positioning.
U.S. spot Bitcoin ETFs also registered signs of net outflows this week. CoinDesk cited notable redemptions from BlackRock's IBIT, Ark's ARKB and Fidelity's FBTC, pointing to a near-term cooling in institutional demand. Softer clearing activity and cash flows have reduced the market's ability to rebound.
Derivatives-market selling pressure compounded the decline. The report said recent liquidations were concentrated in long positions, indicating some traders were positioned for a bounce; when prices failed to hold, forced selling accelerated.
Against that backdrop, total crypto market capitalization has fallen by more than $100 billion from prior levels. On-chain indicators suggest inflows are weaker than in earlier bull-market phases, leaving Bitcoin facing a tougher path to a quick recovery after sliding below $78,000.
For Zcash, CoinDesk said the market is focused on whether the $580 level holds. If buying pressure persists, ZEC could revisit $600; a break below support could open the door to a profit-taking pullback.
