Zcash Price Plunges Amidst Volatility and Forced Liquidations

The Zcash market is experiencing extreme volatility as recent price predictions have highlighted a significant downward pressure. This surge in volatility stems from leveraged trading, particularly a large position of over $7.3 million by a major wallet holding 20,000+ $ZEC on leverage, resulting in substantial unrealized losses and the need for further collateral deposit to avoid liquidation. Technical indicators suggest further downside pressure is likely due to a reversal from recent highs.