Zcash drops 16% triggering $28.37m in liquidations
Zcash (ZEC)
Editor:
Eugene Serbin
bitcoinethereumnews.com reports that Zcash (ZEC) suffered a 16% decline after rallying above $1,200, sparking a liquidation frenzy. Leveraged traders rushed to exit positions as the token fell from its peak, resulting in $28.37 million in ZEC-related liquidations over the last day. Long positions accounted for the majority of this damage at $23.75 million, while short liquidations totaled $4.62 million.
Selling pressure intensified during the drop, with $11.49 million in liquidations recorded within a single 12-hour window. During that same period, $9.40 million came from long liquidations, highlighting how quickly sentiment shifted. A four-hour snapshot showed $1.34 million in liquidations, including $1.19 million from short positions.
Despite the volatility, ZEC trades significantly above its major moving averages on the daily chart. The 50-day and 100-day averages sit at $689 and $646 respectively, while the 20-day average is near $910. The asset surged from under $500 to over $1,200 in just a few weeks, leading to this forced deleveraging.
The Relative Strength Index has cooled to roughly 64, suggesting diminished momentum after being overbought. Traders are now watching the $1,050–$1,100 range for short-term support before a potential deeper retracement to $910.
How the market reacted
Whalio's own Binance spot order flow for ZEC, measured when this story was written up on 11 September 2026. Not the outlet's figures.
Zcash is currently trading at $1,079.96 on Binance spot markets. Over the last hour, the buy ratio stands at 51.4%, indicating a slight edge for buyers in the immediate term. However, this bullish sentiment weakens over longer timeframes, with the 4-hour buy ratio at 49.7% and the 24-hour ratio dropping to 45.8%. Volume delta confirms this shift, showing a net inflow of +$1,335,543 in the last hour but a net outflow of -$959,941 over four hours. Over the full day, the cumulative volume delta is -$28,903,687, with a Cumulative Volume Delta (CVD) of -$3,909,770 at the close. This indicates that while short-term buyers are active, the broader 24-hour flow is dominated by net selling pressure.
The latest daily buy ratio of 52.9% sits at the 82nd percentile of the last 322 days, against a median of 50.2% - stronger buying than most days.
Was that an ordinary day?
The same Binance spot measurements for ZEC, averaged over the days leading up to the story.
Comparing today's activity to the preceding week reveals a shift in trading dynamics. The 24-hour buy ratio of 45.8% is 5.2 percentage points lower than the 7-day average of 51.0%. Volume has increased significantly, reaching 1.30 times the weekly average with a spot volume of $348,538,540. Over the past eight days, the price has risen by 13.4%, accumulating a total volume delta of +$11,917,619. Today's net selling contrasts with the seven-day trend where net buying occurred on five out of seven days. This suggests that while the weekly trend remains positive, the current day represents a notable deviation from the recent average buying behavior.