Zcash price dropped 20% to hit 4-month lows below $220
The price of Zcash fell to $217, hitting a four-month low amid a 20% decline. Privacy Coin Dropped As Bear Pushes Bitcoin Below $70,000 ZEC traded around $228 at the time of writing, but is at risk of breaching support at $200.
Zcash (ZEC) is down more than 20% in the past 24 hours, accelerating a sharp decline amid an increasingly bearish cryptocurrency market.
The privacy coin's drop below $220, the first in four months, came as Bitcoin fell to $69,500 and Ethereum fell to $2,070.
Among other top altcoin losers on the day, Cardano broke to $0.26.
Monero, Dash and Decred have all tanked, hurting cryptocurrencies as privacy coins experience bearish reversals.
In particular, Michael Saylor's BTC Dip strategy is set at $4.5 billion with an undisclosed loss on the company's 713,502 BTC.
Meanwhile, BitMine's 4.2 million ETH currently has a loss of around $7.5 billion.
The high privacy coin turns into a bear
Zcash's decline is notable among privacy coins, especially as the price of ZEC recently surged above $744 as Bitcoin struggled.
Watch for a headwind to trade low at $217 amid waning demand, a few weeks after a $540 rally.
After plunging more than 20% and nosediving 40% in the last 24 hours, Zcash is at risk of another technical crash in the past week.
The amount of capital among holders accelerated sales volumes, which rose 36% to $538 million the previous day.
Despite the losses, in terms of overall performance last year, Zcash is at the top of Bitcoin, Bitcoin Cash and Monero.
Bitwise CIO Matt Hougan shared this view via X.
As of January 1, 2025, the relative returns of various cryptocurrencies are impressive:
Bitcoin (BTC): -22% Bitcoin Cash (BCH): +23% Monero (XRM): +97% Zcash (ZEC): +347%
There are many confounding variables here, including which BTC holders are sitting on the big one.
— Matt Hougan (@Matt_Hougan) February 5, 2026
Zcash crashes below $200
Bears have relentlessly loaded ZEC bulls since the 2025 crypto high above $740.
Now, after entering $217 on February 5, 2026, ZEC is at risk of testing the sub-$200 level.
In the year
Continued regulatory scrutiny of privacy tokens and broad gains in the market amid Bitcoin's recent price collapse are key negative triggers.
While ZEC has breached key trendline support at $250, the daily RSI in the oversold range indicates that a rebound is likely.
However, the decline highlights the privacy coin's struggle amid broader market volatility, and a breach of $200 could spark a new trend.
Key support levels below will be $173 and $125 – before a parabolic advance to the multi-year high above $700 reached in October 2025.
According to CoinMarketCap data, ZEC was trading around $228 on major exchanges during the early US session on Thursday.
This is in line with Bitcoin's slight advance above $70,500, while Monero looks set to hold $345.
