Crypto slump: Bitcoin loses key levels, Zcash sells off
Bitcoin broke below its 50-week moving average, yearly VWAP and 200DMA. Zcash fell more than 12% after Grayscale's ad campaign, and USDT supply is shrinking.
What we know
Bitcoin closed below its 50-week moving average and lost its yearly VWAP and 200DMA. Traders said it fell to about $72k (unconfirmed). The Block reports Grayscale launched a national Zcash ad campaign with a WSJ wrap and pledged $1M, while ZEC and its ETF fell over 12%. Traders capitulated on ZEC longs. CryptoQuant data shows USDT market cap down $6.6B in 60 days. No 2026 token launch is above $100M market cap, and some traders are scaling into longs.
How the story developed
Bitcoin broke below its 50-week moving average, yearly VWAP and 200DMA. Zcash fell more than 12% after Grayscale's ad campaign, and USDT supply is shrinking.
Bitcoin fell under $74,000 on the CPI shock, losing key technical levels, while sentiment stays very bearish.
Sources
“Grayscale launched a national Zcash ad campaign... $ZCSH ETF are both down more than 12%”
View post →What people are posting
Posts on X this story draws on. They are individual users' views and have not been verified by Global Eye 24.
“bitcoin just closed below its 50 week moving average”
View post →“USDT's market capitalization fell by $6.6 billion over the past 60 days”
View post →By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.