ETH Plunges on Zcash Bug and BTC Sell-Off
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Ether (ETH) suffered a sharp decline, falling to a 13-month low below $1,600, triggered by a vulnerability discovered in the Zcash protocol and a concurrent Bitcoin sell-off that saw BTC drop under $60,000 for the first time in months. The Zcash bug raised concerns about cross-chain vulnerabilities, weighing on broader market sentiment. ETH's breakdown below key support levels opens the door to further downside, with analysts eyeing $1,400 as the next critical level. The market remains cautious as risk assets face headwinds from macroeconomic uncertainty and fading momentum.
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