Crypto Market Dives: Bitcoin Slumps, Zcash Faces Critical Vulnerability

The cryptocurrency market experienced a significant downturn last week, with many coins charting multi-month or yearly lows. Bitcoin (BTC) was among the worst performers, plummeting from its mid-May top by over $20,000 to around $60,000.

This decline is attributed to several factors, including the sale of BTC by Strategy, which triggered a community reaction and worsened market sentiment. Additionally, the emergence of critical vulnerabilities in Zcash (ZEC) led to a 41% price drop, making it one of the biggest losers last week.

Cardano (ADA), another notable loser, dropped by over 30%, with its social media activity skyrocketing due to Charles Hoskinson's decision to take a break. Despite this, analysts believe that ADA may recover in the long run.