Zcash experiences price volatility amid whale accumulation and ETF outflows

Zcash (ZEC) has experienced significant price volatility, dropping approximately 22% from its September high of roughly $1,689. The asset recently fell below the $1,500 support level, shifting market focus toward the $1,400 range.

Despite the downward pressure, large-scale investors, known as whales, have been actively accumulating the token. One single investor reportedly acquired over 27,000 ZEC in multiple transactions valued at tens of millions of dollars, suggesting a potential attempt to stabilize the price.

However, institutional trends show mixed signals. Grayscale’s ZEC ETF recorded its first weekly net outflow since its August launch, with approximately $93.56 million leaving the fund. While some traders are looking for a bounce from recent lows near $1,271, others are monitoring technical resistance zones between $1,352 and $1,369 that could trigger further selling.