After a meteoric surge that saw Zcash reach an all-time high above $176, the privacy-focused cryptocurrency has experienced a steep decline of 15%. This pullback follows a remarkable 200% rally over just 30 days. Despite this recent reversal, Zcash remains one of the top performers this month. Data from CoinGecko shows it’s up 120% in the last week alone. Analysts are particularly concerned about Zcash’s correlation with Bitcoin, as its rapid gains often precede market peaks, potentially signaling a cautionary sign for the broader crypto market. Grayscale’s launch of a Zcash trust, which allows investors to gain exposure through a regulated platform, has significantly fueled the recent frenzy and triggered social discussion on X (formerly Twitter), further exacerbating price volatility.