Zcash dropped 8 % in a single day, falling back to around $1,470 after hitting a new all-time high above $1,600 earlier this week. The privacy coin had surged over 2,600% over the past year, with its market capitalization briefly exceeding $25 billion. Analyst Crypto Patel identified a cup-and-handle structure and warned of a local top in the $1,600-$2,000 range, forecasting a decline toward $500 or even $200 in the event of a major cycle reversal. One trader reported $60,000 in paper profit from a short position on ZEC.
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