ZEC's privacy features still exist, and the bear market has not truly arrived yet. The recent market movements have been really strange—last night the overall market dropped sharply, yet ZEC quickly rebounded and then continued to surge upward. Is this normal? Clearly, large funds are supporting it here.

Looking back at previous trends, ZEC hovered around the 400 level for quite some time. Today, it broke through this resistance zone decisively, which is quite interesting. This kind of resilience combined with liquidity performance suggests that institutions or major investors are positioning here. Although the US non-farm payroll data exceeded expectations and put pressure on the market, ZEC's performance clearly moved against the trend.

The demand for privacy coins has not disappeared, and their technological value remains. As long as funds continue to pay attention, a new round of upward movement could be on the horizon. The next step is to see if it can hold above the breakout point.