February 13 News, privacy-focused cryptocurrency Zcash has recently come under significant pressure. In the past 24 hours, its price has dropped approximately 7%, and over the past week, large holders’ holdings have decreased by about 38%, sparking strong concerns about its medium-term trend. Although the asset still experienced a roughly 5.8% rebound within a week, its monthly decline has exceeded 40%, with volatility significantly amplified.
On-chain data shows that while there was a brief net outflow of funds on February 12, indicating some low-level absorption, subsequent inflows of exchange-related tokens continued to increase, suggesting that more Zcash is moving from private wallets into circulating addresses. This structural change is often interpreted as a potential bearish signal. Meanwhile, the top 100 addresses still control about 70% of the total supply, indicating high concentration and making the price more susceptible to large holder actions.
From a technical perspective, analysts have identified a classic bearish flag pattern on the daily chart. This pattern typically appears during a sideways correction after a rapid decline, and once it breaks downward, subsequent drops tend to be proportional to the previous decline. Based on current estimates, if the pattern completes, Zcash could face nearly 66% downside. Additionally, from October last year to February this year, the price has been steadily rising, but the RSI has been gradually declining, forming a prolonged bearish divergence that indicates momentum is waning.
The RSI remains in a downward channel, and the gap between price and momentum indicators continues to widen, reflecting insufficient buying strength. The on-chain “smart money” indicator remains stable, with no clear signs of accumulation. Market observers note that the recent relative resilience during downturns coincides with large holders dispersing their positions, which introduces instability at current price levels.
In the short term, if the price cannot effectively break through the resistance zone above or falls below key support levels, selling pressure could further intensify. Investors should closely monitor on-chain liquidity changes and key technical levels to assess subsequent risks.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Market panic too much? MicroStrategy founder: Bitcoin has hit bottom, quantum threats are unfounded worry
Michael Saylor asserts that Bitcoin has already finished bottoming out at $60k, and believes concerns about threats from quantum computers are overstated. He predicts that in the future, Bitcoin will become the core of a digital credit system, and also noted that there is limited selling pressure in the market, which could drive a new bull cycle. Mizuho has a positive assessment of its company’s future performance.
CryptoCity2h ago
XRP CLARITY Act Vote in Focus as XRP Holds $1.34 and Senate Returns April 13
XRP is trading at $1.34 as traders await the Senate's action on the XRP CLARITY Act, with potential for significant ETF inflows. The Banking Committee's markup is expected in late April, crucial for defining XRP’s regulatory status.
Cryptonews3h ago
Bitcoin Price Update: BTC Jumps to $72,400 After March Inflation Comes in Softer Than Expected
Bitcoin moved from $72,000 to $72,400 on April 10 after March core CPI printed below expectations, giving crypto bulls a short-lived reprieve from months of sustained macro pressure.
Summary
March core CPI rose just 0.2%, below the 0.3% consensus forecast, while headline CPI climbed 0.9% on
Cryptonews4h ago
Bitmine Chairman Tom Lee: The market may have already bottomed out; I recommend focusing on the leading assets since the outbreak of hostilities
Bitmine chairman Tom Lee said on the X platform that although there are still doubts in the market, there are signs that the bottom has already formed. He is bullish on Ethereum and related assets and believes crypto is a wartime value-preservation tool. Risk assets may rebound, but it’s important to watch whether the macroeconomic environment and geopolitical situation remain stable.
GateNews5h ago
Is the market in excessive panic? MicroStrategy founder: Bitcoin has already hit bottom, and the quantum threat is an overblown concern
Michael Saylor asserted that Bitcoin had already finished bottoming out at $60k, and he believes concerns about threats from quantum computers are overblown. He predicts that Bitcoin will become the core of a digital credit system in the future, and he mentioned that selling pressure in the market is limited, which could help drive a new bull market. Mizuho also gave a positive assessment of the company’s future performance.
CryptoCity5h ago
DWF Labs co-founder: The current market is boring but it hasn’t gone away—there are still plenty of opportunities for builders and investors
DWF Labs co-founder Andrei Grachev said the market is currently in a “very boring” phase, with genuinely valuable activity taking place quietly. He advised investors to stay patient, wait for better timing, and noted that retail investors should respond rationally to market volatility—continue learning and staying engaged.
GateNews6h ago
