Zcash Surges 4.89% Amid Short-Squeeze Event

Zcash (ZEC) has seen a significant price surge of 4.89% in the past 24 hours, trading at $1,152.99 as of September 12, 2026. This move stands out from Bitcoin's flat +0.44% gain over the same period.

The sharp upside move caught a cluster of short-sellers with insufficient margin, triggering a cascade of forced closures that amplified the rally. Coinglass data shows $15.83 million in ZEC liquidations over the 24-hour period, with the dominant side confirmed as short.

With $2.15 billion in total open interest still active at current prices, a meaningful portion of that positioning remains exposed to further forced unwinds if price holds above current levels.