Zcash traded under $1,000 on Wednesday, 11 November, near $988, extending a five-day slide, while ether held near $2,055 after touching a 60-session low on Tuesday. A session quote put ZEC down about 5.4% from a previous close near $1,044, with a low of $960 and a high of $1,048. FXStreet said the privacy coin was on its fifth consecutive down day, with losses of more than 20% over that stretch. Bitcoin's hold near $74,000 is in today's markets note.
A Grayscale campaign did not stop the selling
The drop landed on top of a marketing push, not because of one. FXStreet said Grayscale launched a Zcash advertising campaign and is directing sponsor fees toward the network's development, marketing, community, and education. Hot October inflation, and rising odds of further Fed hikes, outweighed that. CoinMarketCap's Fear and Greed Index was 26 on Wednesday, a Fear reading, down from 42 a week earlier, FXStreet and CoinMarketCap reported. FXStreet also said more than $700 million of crypto positions were liquidated over 24 hours, led by nearly $580 million in long bets. Zcash futures showed a taker buy-to-sell ratio of 0.95, a sign that market sells were hitting resting bids.
The coin still has a large gain on the year, which is why it is giving back more than bitcoin. FXStreet put the 50-day exponential moving average near $1,202, already lost, and the 200-day average near $880 as the next longer-term line. A daily close under Tuesday's $993.69 low would break the latest 60-session range, The Crypto Basic said. A recovery would first need $1,150, then Tuesday's high of $1,196.98. Wednesday's low near $960 is already through that Tuesday floor on an intraday basis.
Ether held the $2,000 area, and XRP set a 60-day low
Ether was quieter. A Wednesday quote had ETH near $2,055.54, up about 0.24%, in a range of roughly $2,041 to $2,071. The Crypto Basic said ether fell 3.83% on Tuesday to close at $2,051 after trading down to $2,002, its weakest price in 60 completed daily sessions. A daily close back above $2,080.85 would recover Monday's low. A close under $2,002 would point toward the 13 August low near $1,862. US spot ether ETFs lost $1.3 million on Tuesday, a fourth straight outflow day, a small print next to bitcoin's $95 million. That flow is in the markets note linked above.
XRP was weaker than ether. The Crypto Basic put XRP at $1.058, down 3.17% over 24 hours, a new 60-day low. The same desk had Hyperliquid near $72.03, down 2.49%, and Jupiter up 3.55% at about $0.26, one of the few gainers in a risk-off tape. The common driver is the rate path. Goldman Sachs now expects Fed hikes in December and March 2027, in today's economy briefing. Gold near $4,051 and Brent back toward $92 are in the commodities update. Follow ether on the Ethereum desk.