ZEC experienced a rapid decline in the past 24 hours, dropping from over $90 yesterday to around $65, a decrease of up to 27%. Behind this intense volatility, multiple bearish factors have erupted simultaneously.

**The Three Main Causes Triggering the Drop**

First, news of the core team collectively resigning. Although the CEO previously stated on social media that "things will get better in the future," subsequent personnel changes still caused strong market doubts. The resignations involve several key positions, and such personnel fluctuations often shake investor confidence.

Second, large whale addresses concentrated selling. On-chain data shows that approximately $180 million worth of ZEC was dumped onto the market by big holders in a short period. This highly concentrated outflow pattern has intensified downward pressure.

Third, analyst Hanzo issued a bearish outlook, predicting that $55 could serve as a strong support level. Although this analyst's previous predictions about Bitcoin did not fully materialize, his viewpoint still attracted market attention.

**Ripple Effects Affecting the Privacy Coin Sector**

This decline is not unique to ZEC. Other privacy coins like Monero(XMR) also experienced correlated drops, indicating a clear shift in market sentiment toward the entire privacy coin sector.

**Several Issues to Watch Out For**

Is the team’s resignation just normal personnel movement or a sign that the project is in trouble? Is the whale selling off completely or strategically reducing positions in preparation for bottom-fishing? These uncertainties are increasing market volatility. If the $55 support level is truly broken, identifying the next key level will become even more critical.