After a massive run to the $700–750 zone $ZEC has dropped around 25–30%, and the pullback isn’t about “bad news” – it’s classic overheated market behavior.

Leverage and retail longs pushed funding and open interest to extremes, then once momentum slowed, liquidations and profit‑taking cascaded price lower.

Technically, ZEC printed a double‑top / breakdown from its rising channel, with momentum and volume cooling off hard, so bulls are now digesting a vertical move rather than starting a new bear market.

Big picture: still up huge on the month and year, but this phase is about shaking out late FOMO entries and resetting the trend before any next leg