đ¨ $ZEC â one of the biggest shorts just got closed, and the squeeze fuel is starting to dry up.
A major ZEC short reportedly exited after being held for months, locking in a huge loss.
At the same time, open interest has been declining for the past five days, which means there are fewer leveraged positions left in the market.
That matters because the recent rally was partly supported by short-covering pressure.
Big short closes + OI falls â less squeeze fuel â harder to keep forcing price higher.
So the setup may be changing:
Less short pressure = less forced buying.
If fresh spot demand doesnât replace that missing fuel, $ZEC could struggle to extend the rally from here. đ
#EthereumSurpasses$2700 #CanaryFilesSecondAmendmentForStakedSEIETF #SaylorHintsStrategyBitcoinBuy #BOJRaisesRatesTo31YearHigh #XRPExchangeReservesHitSevenYearLow
A major ZEC short reportedly exited after being held for months, locking in a huge loss.
At the same time, open interest has been declining for the past five days, which means there are fewer leveraged positions left in the market.
That matters because the recent rally was partly supported by short-covering pressure.
Big short closes + OI falls â less squeeze fuel â harder to keep forcing price higher.
So the setup may be changing:
Less short pressure = less forced buying.
If fresh spot demand doesnât replace that missing fuel, $ZEC could struggle to extend the rally from here. đ
#EthereumSurpasses$2700 #CanaryFilesSecondAmendmentForStakedSEIETF #SaylorHintsStrategyBitcoinBuy #BOJRaisesRatesTo31YearHigh #XRPExchangeReservesHitSevenYearLow
