𤣠While everyone is still bragging about ZEC hitting a three-year high on screen, and when Grayscale is their âown child,â Iâm first going to take a look at where the money isâfees are frozen at 0.01%, and leverage is ice-cold. Yes, itâs truly up: in seven days itâs up more than 70%. But whatâs driving this move isnât leverage maniaâitâs the news plus emotion.
The real drama is in the accounts. In the deepest batch of positions, 66% is hanging on the short side. On the retail side, sentiment is pumped up to 7.9; KOL bullish posts have beenĺˇ more than 200 times. Price has gone to the sky, but the money is down below, pressing the market in the opposite directionâpeople who actually hold the coins are borrowing this wave of sentiment to realize profits, not adding to their positions.
RSI hits 88, MFI hits 92âeverything is jammed right at the throat. The spot order book sell orders are thicker than buy orders by a wide margin. In just one hour, the direction is already turning down; the breath from the three-day high gets cut off right here. A $14.0 billion market cap riding a parabola propped up by an ETF news storyâonce sentiment cools, the ones who always give up first are the last people to board.
I recognize the bearish direction. đł and thatâs it. Unless the fee rate suddenly spikes, big accounts collectively flip long, and price breaks back through the three-day high with renewed volumeâthen itâll be my turn to shut up. Until then, we just wait for the retracement.
#zec $ZEC
The real drama is in the accounts. In the deepest batch of positions, 66% is hanging on the short side. On the retail side, sentiment is pumped up to 7.9; KOL bullish posts have beenĺˇ more than 200 times. Price has gone to the sky, but the money is down below, pressing the market in the opposite directionâpeople who actually hold the coins are borrowing this wave of sentiment to realize profits, not adding to their positions.
RSI hits 88, MFI hits 92âeverything is jammed right at the throat. The spot order book sell orders are thicker than buy orders by a wide margin. In just one hour, the direction is already turning down; the breath from the three-day high gets cut off right here. A $14.0 billion market cap riding a parabola propped up by an ETF news storyâonce sentiment cools, the ones who always give up first are the last people to board.
I recognize the bearish direction. đł and thatâs it. Unless the fee rate suddenly spikes, big accounts collectively flip long, and price breaks back through the three-day high with renewed volumeâthen itâll be my turn to shut up. Until then, we just wait for the retracement.
#zec $ZEC
