Zcash Rebounds After 13% Drop as ETF Flows Stay Uneven

Zcash (ZEC) fell nearly 13% on October 15, dropping below the $1,115 support area as about $20.09 million in futures positions were liquidated. Nearly 89% of those liquidations were leveraged longs. The decline followed a rally from below $500 in August to around $1,650–$1,700 in late September, and coincided with broader market weakness, including Bitcoin and Ethereum losses. Traders watched $1,050 and $1,000 as downside levels, with $1,242–$1,264 as a recovery zone. A reported $3.68 million Grayscale Zcash ETF inflow on October 14 did not halt the selloff. By October 21, ZEC had rebounded about 6% to roughly $1,260–$1,285 after nearing $1,040 on October 19. The later update cited about $115.5 million in ZCSH redemptions across 13 October trading sessions, while noting this was not a reconciled monthly net-flow figure and that asset values can change with ZEC’s price. ETF flows were mixed: trackers reported withdrawals on October 15 and 19, followed by about $1.6 million in inflows on October 20. Around $11.74 million in ZEC futures positions were liquidated over 24 hours during the rebound, with shorts accounting for about 82.8%. Traders are now watching resistance at $1,300–$1,350; a sustained break could put $1,400 in focus. A drop below $1,200 may expose $1,100 and the recent $1,040 low. The proposed NU7 upgrade, intended to speed block production and make other protocol changes, remains a potential longer-term catalyst, subject to developer readiness. High leverage and volatile ETF flows leave ZEC vulnerable to sharp moves.