Ethereum tumbled below $1,600 on Friday, hitting its lowest point in 13 months, as news of a vulnerability in the Zcash protocol rattled traders and dragged the broader market lower. Bitcoin also slipped under $60,000 for the first time in weeks, extending a selloff that accelerated after the security disclosure.
The Zcash Disclosure
The vulnerability in Zcash, a privacy-focused cryptocurrency, was reported earlier this week and quickly linked to Ethereum's price slide. The exact technical details have not been made public, but traders reacted swiftly, with selling pressure building in ETH and spreading to other assets. The incident marks one of the clearest examples this year of a security flaw in one cryptocurrency affecting valuations across the board.
Ethereum's 13-Month Low
Ethereum's drop below $1,600 represents its worst price level since early 2025. The decline wiped out weeks of gains and came on high volume, suggesting conviction behind the move. While the broader crypto market has been under pressure for days, the Zcash news appeared to accelerate the descent, pushing ether past a key support level that had held for months.
Bitcoin Breaks $60,000
Bitcoin wasn't spared. The largest cryptocurrency fell below the $60,000 threshold, a level it had defended since late May. The break came as the Zcash vulnerability news hit wire services, reinforcing the notion that security concerns can spill from privacy coins to the market leaders. Bitcoin's drop briefly dragged altcoins lower, though most recovered slightly by the afternoon.
No patch has been published yet, and the Zcash team has not disclosed a timeline for a fix. Both Ethereum and Bitcoin remain near their session lows as the market digests the implications of the vulnerability and waits for clarity on the severity of the flaw.
