Zcash Faces Bearish Divergence and Broader Market Correction

Zcash has been facing a challenging June 2026, with its price dropping to $619.99 amidst a broader crypto market correction. The bearish divergence on the daily chart suggests a potential decline, with some analysts advising profit-taking.

However, Grayscale's pending ETF filing and Multicoin Capital's accumulation provide fundamental support for ZEC. Grayscale filed to convert its existing Zcash Trust into a spot exchange-traded fund, creating the first publicly traded spot ETF tied to a privacy coin.

The SEC concluded a long-running review of Zcash in January 2026 without enforcement action, clearing a significant regulatory hurdle for institutional participation. Multicoin Capital disclosed it had been accumulating ZEC since February 2026, citing privacy-preserving financial infrastructure as an increasingly important component of digital asset markets.