Brothers, to be honest—$ZEC’s bones really are hard, and the market makers really are badass! While everyone else is dropping, it keeps pushing higher relentlessly.
But for all that, the latest signals are already looking off. Wang Chun, co-founder of F2Pool, directly blasted it, saying that ZEC’s rally of 2200% and a market cap hitting 19.48 billion yuan is nothing more than a “narrative squeeze driven by exchange listings and speculative momentum,” with trading adoption, daily active addresses, and developer activity all failing to keep up with the price.
Now look at the real flows of funds. In the past 24 hours, ZEC futures open interest has fallen by about 20%, and roughly $17.2 million worth of positions have been liquidated. The earlier surge that pushed it up to $1,250 was powered by $34.5 million of short liquidations. Now, the fuel for the shorts is almost burned out, and leveraged capital is pulling back.
There’s another detail worth being wary of. Around September 13, a huge whale moved 12.8k ZEC (worth $13.65 million) out from four exchanges into a brand-new address. When big players move their chips away from exchanges at higher levels, it inherently helps them avoid short-term sell pressure.
From a technical perspective, ZEC is currently consolidating around 1,112. 1,150 overhead is a strong resistance, while 1,050 below is the key support. If the rate hike lands with a more hawkish tone, high-beta privacy coins could face heavier pressure and potentially see a second dip.
My shorts will keep holding for now, waiting for the rate hike to land. #zec
But for all that, the latest signals are already looking off. Wang Chun, co-founder of F2Pool, directly blasted it, saying that ZEC’s rally of 2200% and a market cap hitting 19.48 billion yuan is nothing more than a “narrative squeeze driven by exchange listings and speculative momentum,” with trading adoption, daily active addresses, and developer activity all failing to keep up with the price.
Now look at the real flows of funds. In the past 24 hours, ZEC futures open interest has fallen by about 20%, and roughly $17.2 million worth of positions have been liquidated. The earlier surge that pushed it up to $1,250 was powered by $34.5 million of short liquidations. Now, the fuel for the shorts is almost burned out, and leveraged capital is pulling back.
There’s another detail worth being wary of. Around September 13, a huge whale moved 12.8k ZEC (worth $13.65 million) out from four exchanges into a brand-new address. When big players move their chips away from exchanges at higher levels, it inherently helps them avoid short-term sell pressure.
From a technical perspective, ZEC is currently consolidating around 1,112. 1,150 overhead is a strong resistance, while 1,050 below is the key support. If the rate hike lands with a more hawkish tone, high-beta privacy coins could face heavier pressure and potentially see a second dip.
My shorts will keep holding for now, waiting for the rate hike to land. #zec