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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.
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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 $300 support.
Price declines amid a spike in trading volume suggest short-term bearish sentiment.
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Bitcoin ($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.
