Zcash (ZEC) has climbed to its highest level in seven years, bucking the trend in a volatile crypto market where
Bitcoin
(BTC) is struggling to maintain a position above $110,000. The privacy-oriented coin has soared by more than 400% over the past month, fueled by a resurgence of institutional interest and 4.5 million
ZEC
now secured in shielded pools, as reported by
Yahoo Finance report
. This surge stands in stark contrast to Bitcoin’s recent price swings, which saw it fall below $109,000 on October 29 amid global tensions and conflicting macroeconomic signals, according to
a Yahoo Finance article
.
The rise in ZEC points to a growing preference for privacy-focused digital assets, with the Grayscale
Zcash
Fund drawing in $85 million, based on
The CoinRise report
. In contrast, Bitcoin is facing challenges as traders contend with the aftereffects of the U.S.-China trade agreement and recent Federal Reserve rate cuts. The Fed’s 25 basis point decrease to a range of 3.75%-4% did not
spark
a lasting rally, with
BTC
slipping back to $108,000 and failing to surpass key resistance points. Experts caution that unless BTC can maintain levels above $113,500, further declines may be on the horizon, according to
a CoinGape forecast
.
The contrasting trends in the market reveal a deeper split in the crypto narrative. Zcash’s impressive performance underscores the growing demand for privacy and institutional involvement, while Bitcoin’s difficulties highlight ongoing economic uncertainty. On-chain data for Zcash paints a striking picture: 27.5% of its total coins are now shielded, tightening available supply and pushing prices higher, as per The CoinRise report. This is in sharp contrast to Bitcoin, which remains vulnerable to international developments, such as Trump’s nuclear threats and trade talks, which have overshadowed the Federal Reserve’s more accommodative policies, as previously mentioned in a Yahoo Finance article.