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Crypto Markets Today: Zcash Surges to Lead Altcoin Market as Bitcoin Stalls Near $108K

Zcash (ZEC) has led the altcoin market with a blistering 461% gain over the past 30 days, rising to about $276 as interest in shielded tokens—now 27.5% of supply—has constrained sellable supply and driven futures open interest up 22% to roughly $303 million. By contrast, bitcoin is stuck in a tight range around $107,800 with key support near $102,000 and resistance near $120,000; a break below $102,000 could trigger an accelerated altcoin sell‑off, while a move back toward $120,000 would signal renewed upside. Derivatives activity shows balanced funding rates for major coins, record ether futures OI and cautious positioning in BTC options, underscoring institutional preference for ETH over BTC and elevated risk aversion in smaller tokens. The divergence highlights concentrated speculative flows into privacy-focused ZEC amid broader weakness in many altcoins, making market liquidity and bitcoin’s next directional move the main near‑term stakes.