Zcash surges 130% over the past month to reach historic levels, decoupling from a broader crypto market retreat that has pushed Bitcoin to its lowest point in nearly four weeks.
Zcash continues its aggressive momentum, climbing 6% to trade near 2016 all-time highs with a 130% gain over the last 30 days. Conversely, Bitcoin faces downward pressure, sliding to a three-and-a-half-week low below $76,000 as market participants brace for the upcoming Federal Reserve interest rate decision.
While Bitcoin is reacting to macroeconomic uncertainty surrounding the Federal Reserve's interest rate policy, Zcash is experiencing a period of strong independent momentum, trading near its 2016 all-time highs.