First, let's clarify the market:
ZEC has moved from 354 USD to 392.8 USD in the past 24 hours,
The highest in the range is 398.2, the lowest is 347.3,
The intraday volatility is close to 15%, and the closing price still rose by about +10.9%.
This is not a 'small coin chaos', but rather a strong push through the bearish defense line against the cautious sentiment in the entire market.
The key now is—
There are two types of shorts being squeezed in the market:
1) In the market: ZEC is the only profit for 'Calm Order King'
Latest tracking:
This trader known as 'Calm Order King',
Top three positions: BTC short 40x, SOL short 20x, ZEC short 10x;
The overall account during the BTC pullback turned a loss into a brief profit and was pulled back into a slight floating loss;
Among the three positions, the floating loss mainly comes from BTC and SOL, while the ZEC short position is the only one with a floating profit.
The data is approximately:
BTC short position: about 12.25 million USD, floating loss 40,000;
SOL short position: about 2.24 million USD, floating loss 150,000;
ZEC short position: about 2.51 million USD, floating profit 20,000, leverage 10 times, average price 360 USD.
That is to say:
He is shorting ZEC around 360.
As a result, ZEC was pulled to around 390–400 in one go,
After suffering a loss during the trading session, it retraced and gave him a small profit again,
The whole person sits on an electric chair and is shocked back and forth.
You can tell by looking at the K-line:
347–360: This is the area where the main force dumps and collects goods;
360–380: This is the area for short sellers to add positions;
380–400: This is the area for testing shorts.
Calmly open orders, placing positions in the densely populated short zone,
As a result, ZEC directly stepped on the price and danced on his face.
2) Structurally: ZEC is no longer the garbage privacy coin of the past, but chips that become 'more appealing as regulation tightens.'
In this round of market, the privacy track has several characteristics:
The more regulatory news there is, the more active the on-chain transactions of XMR / ZEC become;
Traditional finance is trying to make all assets 'transparent and regulatory',
But the demand for privacy assets has never declined due to the black market, cross-border funds, and extreme risk hedging.
You had a memory point before:
'The stricter the regulation, the more expensive privacy becomes: the era of ZEC / XMR has returned.'
Now it is more obvious to look at this market environment:
BTC is squeezed around 90,000, trapped by derivative liquidation columns;
ETH is treated by institutions as a 'settlement layer', moving relatively gently;
There is a lot of noise in the altcoin market;
Instead, ZEC, being a 'small variety + high concentration + short accumulation' is the easiest to be treated as a target for hunting practice.
3) This wave of ZEC's rise is not really killing retail investors, but rather the 'self-proclaimed clever leveraged shorts.'
Look at the structure:
Many people regard 360 as a 'high point', thinking it has risen too much and needs to correct;
As a result, the main force pushed the market to 390–400 in one go, causing all short positions above 10 times to instantly enter a high-pressure zone;
Repeatedly oscillating between 380–400, pushing the liquidation line closer and closer.
Calm players of the 'King of Opening Orders' level,
All have been beaten into 'the only profitable position is ZEC, still with a slight floating profit',
How do ordinary shorts hold on?
ZEC is not a 'value trade' now, it is an 'emotional harvesting ground'.
When a famous short seller enters the market, the main force has a live target.
4) So, how to look at ZEC next?
I will talk in three parts:
Price structure:
360: This is the 'short cost dense area' of this round of market;
380–400: This is the main force's testing rally area; as long as it can stabilize above 380, it is a trap for shorts.
If it falls back below 360 with volume, it means this wave is just a 'trap for shorts + margin call', and there will be more washing ahead.
Emotional structure:
As long as the 'King of Opening Orders' level shorts have not admitted defeat, ZEC has not yet reached the moment of true peak;
The real end is often when shorts collectively admit their mistakes, flip to long positions, and retail investors chase high; that is the peak.
My attitude:
Spot: I do not recommend you heavily invest in ZEC for the long term; it is more suitable to be treated as a 'short-term battlefield for hunting shorts'.
Contracts: As long as there are so many well-known shorts lying on the market, I would rather take a small position and follow the trend, rather than repeatedly guess the top in the 360–400 area.
In a word —
In the past, it was 'ZEC double kill 20 million U: the dealer hunts retail investors';
Now ZEC is 'calling out professional shorts'.
You need to be clear about which side you want to stand on.
