Zcash Plummets: 26% Drop Follows Record Highs – What’s Driving the Reversal?

Zcash (ZEC) has experienced a dramatic reversal, dropping over 26% in the past day after reaching multi-year highs. The sudden sell-off was triggered by massive liquidations, likely fueled by short positions and a classic short squeeze. These events saw trading volume surge to $3.82 billion while market cap fell to $8.44 billion. 2025 has seen Zcash’s price fluctuate wildly, following an explosive climb that briefly pushed it past $760 before the recent correction. This crash occurred after a period of strong bullish sentiment fueled by the upcoming halving event later this month and increasing institutional interest.