Zcash Falls Below $1,100 as Bitcoin Slips Under $74K After Hot CPI Print
Zcash fell below $1,000 on Tuesday, with sources giving daily losses between 10.5% and 13%, while Monero also declined and bitcoin dropped below $73,000 after a higher-than-expected US CPI reading. Bitcoin has since recovered to trade near $74,000, and total crypto market capitalization is about $2.45 trillion.
Written by CoinArticle’s AI Newsroom · from 2 cited sources. How we work
Zcash and Monero Lead the Declines
Zcash was the weakest large token over the past 24 hours. The Defiant reported a daily loss of 10.5% and said ZEC traded about 31.5% below a late-September level above $1,600, while CryptoPotato reported a steeper 13% drop that took the token below $1,000 for the first time since early September. The two outlets differ on the exact size of the move, likely because they captured prices at different points in the session.
Monero also fell. The Defiant put its decline at 9.2%, while CryptoPotato reported XMR still trading above $575 after a 5.6% gain. That discrepancy is the sharpest conflict between the two sources and is not resolved by the material available. Both outlets agree the privacy coins underperformed the broader market.
Bitcoin and the CPI Reaction
Bitcoin's decline followed a US CPI release for October that came in higher than expected. According to CryptoPotato, BTC was near $74,000 ahead of the announcement and then fell below $73,000, its lowest level since mid-August. The Defiant described bitcoin and ether as posting smaller declines than the privacy tokens, without citing a specific figure.
CryptoPotato reported that bitcoin has since rebounded by about $1,000 but still trades below $74,000. Its market capitalization is below $1.5 trillion on CoinMarketCap, and its share of total crypto market capitalization rose slightly to 60.5%.
A Volatile Week Across Markets
The move extends a choppy week. CryptoPotato said bitcoin had rallied to about $81,000 after the midterm election results, only to fall back to $75,200 in a sell-off it called the Thursday crash. BTC then slipped to $73,600 early Monday before the CPI release.
Altcoin performance was mixed beyond Zcash and Monero. CryptoPotato reported Ether holding above $2,000 at $2,055 after a 1.6% daily decline, XRP at $1.06, and BNB at $680. Avalanche and BitTorrent gained, with AVAX up about 4% near $8.70 and BTT up 10% to $1.08. Total crypto market capitalization fell by about $40 billion in a day to $2.45 trillion, per CoinMarketCap.
Both sources describe the session as broadly risk-off. Neither reports a single identifiable cause for the privacy-coin weakness beyond the macro backdrop.
Why It Matters
For Traders
Sources disagree on the size of the Zcash and Monero declines, so position sizing should rely on live exchange data rather than either figure cited here.
For Investors
Bitcoin's dominance rising to 60.5% during a broad sell-off suggests altcoins are underperforming in a macro-driven drawdown, not in a sector-specific one.
For Builders
Sharp, uneven moves across privacy and large-cap tokens show liquidity can thin quickly during macro data releases, which matters for protocols with price-sensitive collateral.
This article is for information only and is not financial advice. Read the full disclaimer.
