Market caution spreads, with Meme coins and the DeFi sector leading the decline, ZEC drops over 15%

As Wall Street became cautious ahead of Friday's employment data and the Supreme Court's ruling on tariffs, assets like Meme coins, which have performed well recently, faced greater declines than major cryptocurrencies. The sentiment in the cryptocurrency market turned pessimistic, with ETH, SOL, and DOGE dropping between 2% and 6%, POL, CC, and WLFI falling about 2%, and ZEC declining over 15%.

Bitcoin fell below $90,000 during the Asian trading session, continuing a pullback from around $93,600, with a recent decline of nearly 2%. The short-term support level is near $89,200, which is the 50-day simple moving average.