A giant whale sells ETH and stubbornly holds a ZEC short
Garrett Jin is linked to a giant whale that sold 35,000 ETH, about $87.5 million, and used part of the funds to top up the ZEC short margin, raising the liquidation price from $2,631 to $4,738. This short position is still down by roughly $30 million, and it is one of the more closely watched large ZEC short positions on Hyperliquid. This is bullish for ZEC: the short hasn’t exited—it’s selling ETH to buy time, indicating that the ZEC rally has already pressed down to the risk-control line of the core short. In the short term, funds will keep watching the squeeze momentum in ZEC, but the closer it gets to the highs, the more chasing higher prices will test whether the buying volume can stay sustained. On the ETH side, it’s more of a one-off signal of whale sell pressure.
Source: BlockBeats
#ETH #ZEC
Figure 1: Giant whale sells ETH and stubbornly holds a ZEC short · Partial screenshot from the source page
Image source: https://www.theblockbeats.info/flash/367843
Garrett Jin is linked to a giant whale that sold 35,000 ETH, about $87.5 million, and used part of the funds to top up the ZEC short margin, raising the liquidation price from $2,631 to $4,738. This short position is still down by roughly $30 million, and it is one of the more closely watched large ZEC short positions on Hyperliquid. This is bullish for ZEC: the short hasn’t exited—it’s selling ETH to buy time, indicating that the ZEC rally has already pressed down to the risk-control line of the core short. In the short term, funds will keep watching the squeeze momentum in ZEC, but the closer it gets to the highs, the more chasing higher prices will test whether the buying volume can stay sustained. On the ETH side, it’s more of a one-off signal of whale sell pressure.
Source: BlockBeats
#ETH #ZEC
Figure 1: Giant whale sells ETH and stubbornly holds a ZEC short · Partial screenshot from the source page
Image source: https://www.theblockbeats.info/flash/367843
