Do you remember Arthur Hayes saying "Zcash can rise to 1000 dollars"? This wave of advocacy was indeed fierce, directly pushing ZEC to a historical high of 521.50 dollars. The entire privacy zone celebrated for a while, but now what was meant to come has come — profitable positions and panic positions have surged together.

Dash dropped 11.01% in the last 24 hours, and PIVX was even worse, crashing 17.07%. Other following altcoins were not spared: ARDR shrank 5.38%, SCRT plummeted 14.88%, TFUEL slid 12.14%, XVG retreated 6.46%, and ZEN plummeted 16.2%. Market sentiment can change rapidly; with such quick capital rotation, the privacy narrative that was praised just a few days ago has now become a heavy area of selling.

However, speaking of which, there are still some oddities in this overall downtrend. For example, MITO surprisingly rose by 5.82% in just 5 minutes, indicating that there is still capital competing for short-term opportunities in certain areas. Overall, the downtrend in the privacy coin zone has become very evident, and the next thing to watch is who can stabilize first.