Why are so many people suddenly targeting an old coin like $ZEC ?
It’s not that its technology changed overnight. The market is just looking for the “next name that can carry the $BTC narrative.”
Grayscale wants to push a spot ETF—these four words are extremely sensitive in the current market.
Look at $BTC ; it’s still hovering around $77,282.5. In the last 24 hours, it’s up 2.8%. It hit a high around 79,500, and even dipped to a low near 75,104.
Spot trading volume is 3.257 billion, while futures is 31.299 billion—about 9.6x.
All the money is using leverage to bet on sentiment; it’s not like people are patiently accumulating.
In a situation like this, anything that can hitch a ride on the “Bitcoin replacement narrative” will be pulled back up and re-examined.
This time, $ZEC surged to above $800 in one go, up 48%. That kind of move is definitely not the usual “nobody pays attention” old-coin rhythm.
I watched the K-line for ten-odd minutes, and one thought popped into my head: people didn’t suddenly fall in love with the privacy track—it’s that they really want to copy the story from back when $BTC ETF was the play.
And the problem is here.
The funding rate for $BTC is only +0.01% right now, meaning sentiment is hot, but not so hot it’s out of control.
But futures open interest is already at 105,618 BTC. At this position, the biggest fear is that some outside “small tickets” act too wildly first, and then the main storyline starts to shake instead.
I’m not saying $ZEC has no chance.
I’m saying the market is buying it more for imagination—not for realized cash flows, and not because suddenly new users are rushing in.
The last time there was a “second ignition” of an old narrative, I chased it in. My order was only held for less than a day before getting thrown off. People say they can hold it—but in their hands, they were the ones who got scared.
If it were me now, I wouldn’t chase this acceleration phase.
I’ll watch whether $BTC can regain and hold steady around 79,500. Once it holds, then these kinds of plays will have room to keep telling the story.
If you ask me where this wave of hype is coming from, the answer is very simple: just the three letters—ETF.
$BTC #ETF动态 #BinanceSquare
Don’t go all-in. If you lose money, don’t blame me.
It’s not that its technology changed overnight. The market is just looking for the “next name that can carry the $BTC narrative.”
Grayscale wants to push a spot ETF—these four words are extremely sensitive in the current market.
Look at $BTC ; it’s still hovering around $77,282.5. In the last 24 hours, it’s up 2.8%. It hit a high around 79,500, and even dipped to a low near 75,104.
Spot trading volume is 3.257 billion, while futures is 31.299 billion—about 9.6x.
All the money is using leverage to bet on sentiment; it’s not like people are patiently accumulating.
In a situation like this, anything that can hitch a ride on the “Bitcoin replacement narrative” will be pulled back up and re-examined.
This time, $ZEC surged to above $800 in one go, up 48%. That kind of move is definitely not the usual “nobody pays attention” old-coin rhythm.
I watched the K-line for ten-odd minutes, and one thought popped into my head: people didn’t suddenly fall in love with the privacy track—it’s that they really want to copy the story from back when $BTC ETF was the play.
And the problem is here.
The funding rate for $BTC is only +0.01% right now, meaning sentiment is hot, but not so hot it’s out of control.
But futures open interest is already at 105,618 BTC. At this position, the biggest fear is that some outside “small tickets” act too wildly first, and then the main storyline starts to shake instead.
I’m not saying $ZEC has no chance.
I’m saying the market is buying it more for imagination—not for realized cash flows, and not because suddenly new users are rushing in.
The last time there was a “second ignition” of an old narrative, I chased it in. My order was only held for less than a day before getting thrown off. People say they can hold it—but in their hands, they were the ones who got scared.
If it were me now, I wouldn’t chase this acceleration phase.
I’ll watch whether $BTC can regain and hold steady around 79,500. Once it holds, then these kinds of plays will have room to keep telling the story.
If you ask me where this wave of hype is coming from, the answer is very simple: just the three letters—ETF.
$BTC #ETF动态 #BinanceSquare
Don’t go all-in. If you lose money, don’t blame me.