Zcash Hits New ATH Past $1,000 Amid Short Squeeze
Zcash (ZEC)
Editor:
Eugene Serbin
bitcoinethereumnews.com reports that Zcash (ZEC) surged past $1,000 for the first time in history, peaking at $1,029 on Friday. This milestone follows a consolidation phase in late August and a subsequent rally driven by a short squeeze event. Over $32 million in short positions were liquidated over the last two days, fueling the price increase.
The rally was further supported by a spike in positive spot net flows of approximately $23 million recorded on 23 September. Open interest also reached historic levels, peaking at $2.15 billion on Friday morning. The price action occurred just ten days after Grayscale launched the first official Zcash ETF on the NYSE on 25 August.
Grayscale’s assets under management for ZEC have now exceeded $362 million. Despite the bullish momentum, the coin entered overbought territory, leading to a slight pullback to $971 at press time. Technical indicators show a bearish divergence, with the RSI topping out lower despite the new price high. Polymarket currently assigns a 76% probability to ZEC reaching $1,100 and a 50% chance of hitting $1,300 before 2027.
How the market reacted
Whalio's own Binance spot order flow for ZEC, measured when this story was written up on 5 September 2026. Not the outlet's figures.
Zcash is currently trading at $1,022.94, showing a shift in short-term momentum compared to the broader 24-hour trend. The 1-hour buy ratio stands at 31.5%, indicating a temporary dominance of sellers, while the 4-hour buy ratio is higher at 47.7%. Over the last 24 hours, the buy ratio was 48.8%, suggesting that buying pressure has weakened in the immediate term. Volume deltas reflect this seller dominance, with -$3,543,580 recorded in the last hour and -$1,089,595 over four hours. The cumulative volume delta for the day closed at -$2,417,671, confirming that net selling pressure has outweighed buying in the recent session. Despite this, spot volume remains robust at $310,494,537 with nearly 848,494 trades executed.
The latest daily buy ratio of 48.8% sits at the 35th percentile of the last 281 days, against a median of 50.1% - ordinary for this coin.
Was that an ordinary day?
The same Binance spot measurements for ZEC, averaged over the days leading up to the story.
This trading activity contrasts with the preceding week, where the 7-day average buy ratio was 50.6%. The current 24-hour buy ratio of 48.8% is slightly below this weekly average, indicating a marginal shift toward selling. However, trading volume has been double the weekly average, showing increased participation despite the lower buy ratio. The coin gained 27.8% over the eight-day period, driven by a net positive volume delta of $2,787,265 for the week. While today shows net selling, the broader weekly trend remains firmly in positive territory.