Zcash (ZEC) has experienced a sharp decline over the past 24 hours, dropping more than 9% to a low of $329 amid a broader cryptocurrency market downturn.
The altcoin fell by nearly double digits as top coins foundered, including most privacy-focused tokens.
Like ZEC, Monero, and Dash, tanked as macroeconomic pressures fade, the privacy appeal.
Much of the downside pressure was reflected in the sharp losses that hit Bitcoin, which dropped under $83,000, as investors reacted to the latest US inflation data and the Federal Reserve’s pause decision.
Zcash falls 9% to support
The price of Zcash dropped approximately 9% intraday on January 30, 2026, sliding from above $370 to $329.
As noted, this movement breached key support levels, extending declines from intraday highs of $400 earlier in the week.
Over the past week, ZEC has shown pronounced weakness, declining roughly 10%. Bears have had a greater impact over the last 30 days, with more than 35% of gains wiped out.
After leading the crypto market in late 2025, Zcash is now underperforming the broader market and peers.
Daily closes reveal a consistent downtrend, and ZEC’s inability to hold above $350 signals potential further tests of $300 support.
Price declines amid a spike in trading volume suggest short-term bearish sentiment.
Bitcoin dump cascades to privacy points
Bitcoin (BTC) has struggled for most of the past month, extending pain from the fourth quarter of 2025.
As gold pumped to $5,500, BTC consolidated. However, as the precious metal plunged on Thursday amid sharp sell-offs, the Bitcoin price crashed to $84,250.
On Friday, with fresh inflation data coming in, the bellwether digital asset crashed to under $83,600. On January 29, 2026, the Federal Reserve opted to pause rate cuts, citing a solid economy despite moderating inflation.
Fed Chair Jerome Powell’s measured tone dashed hopes for imminent easing.
A day later, hotter-than-expected Producer Price Index (PPI) data hit the market.
Economist Mohamed El-Erian shared the details on X, noting that the monthly PPI for the month of December was “significantly above consensus forecasts.”
Much hotter-than-expected US PPI inflation:
Monthly PPI inflation for December jumped to 0.5%, significantly above the consensus forecast of 0.2%.
Core PPI was even more startling, coming in at 0.7% monthly and pushing the annual core measure to 3.3% (well above the anticipated
Investor reaction swiftly saw panic buttons pressed.
While precious metals also fell, investors have yet to rotate into cryptocurrencies as a hedge, with Bitcoin ETFs showing net withdrawals and selective inflows limited to top performers like IBIT.
The result is a cascade of selling pressure, which also hit privacy coins hard. Monero (XMR) pared gains seen earlier in the day, while Dash (DASH) shed about 8% intraday to around $50.
Decred price dropped to $17, and Verge dipped 7% to $0.0005. Other altcoins, including Ethereum and XRP, also shed gains, dropping to $2,800 and $1.75, respectively.
Macro headwinds are likely to overshadow hype around privacy coins, allowing for further bearish retests.
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