$ZEC Now there’s “more”—it’s just a bunch of people shouting “bullish” while standing on the rubble of a drained leverage system. On-chain lending collapsed overnight by more than 90%; the rate of debt growth flipped directly negative—the gunpowder behind the pump is being pulled out. Meanwhile, the spot long/short ratio is still sitting at a high level: longs are squeezed into a sardine tin, with no fuel left and positions stacked that heavily. The moment price turns, it’s a stampede. Those little upticks on the technicals can’t save this situation—don’t fool yourself with moving averages.