Let’s state the conclusion first: ZEC is up 6.4% in one day; in the last 24 hours, $19.46 million was liquidated, and 78% was shorts. This round targets everyone who was chasing shorts.
Current price is 1538. Over the past 24 hours, the high was 1573 and the low was 1430, while Binance and OKX both capped their gains in sync at 6.4%.
The closer it gets, the worse it is: in the recent 4 hours of liquidations, 87% were shorts, and in the last 1 hour, 88% were still shorts. The higher the price rises, the more shorts keep holding on—until they get liquidated.
The biggest order was on Hyperliquid: a $469,000 short position at 1568 was liquidated, just 2% away from the current price—almost the final breath.
Even more striking is the positioning: across the whole network, ZEC futures open interest is $2.83 billion, up 5.6% in a day. On Hyperliquid on-chain, positions are $830 million, making up 29% and overtaking Binance’s 25% to take first place. Bybit added 12.9% more in a day too. On-chain leverage became the main driver of this short-squeeze wipeout.
$ZEC $BTC
Price is going up, but the shorts are still stubbornly holding on—do you think this squeeze is finally reaching the end?
Check in real time: https://www.coinboss.com/currencies/ZEC