$ZEC $BTC $ETH Short positions are crowded; hidden short-squeeze fuel ⚠️
The long-to-short ratio is about 0.53, and a large number of short positions have been piled up in the market 🔥
Many retail traders think the rise is too big and keep shorting on the grounds that it’s “too expensive,” but this is already an asset that has seen short-squeeze conditions before.
Since the last year’s low, it has accumulated gains of more than 20x; the on-chain realized cost is only about 328, while the current price is close to 4.5x the cost.
Many traders subjectively believe the huge move must pull back, and with every pump, new short orders keep getting added.
Core contradiction 💡: spot funds and futures funds come from two different groups of traders.
The size of the Grayscale ZCSH ETF is nearing $1 billion, with funds continuously flowing in for accumulation;
but on the futures side, more and more people are betting on a decline.
Market structure:
• Retail traders concentrate a large number of shorts
• ETF and spot funds keep accumulating coins
• Many of the big shorts are low-leverage and are unlikely to be liquidated in the short term
• With each round of上涨 (rising), it’s easy to trigger the next round of squeezed shorts
⚠️Key point: an extreme long-to-short ratio only indicates that most people don’t approve of the current price; it doesn’t mean the market will drop immediately.
📌 Key price levels
Resistance: 1550–1570, 1595
Support: 1440–1450, 1400, 1230–1250
Personal view: ZEC shorts are crowded, and it isn’t a comfortable target for shorting.#BNB市值超越纽约梅隆银行 #加密市场总市值重回3万亿美元 #Strategy增持950枚BTC
The long-to-short ratio is about 0.53, and a large number of short positions have been piled up in the market 🔥
Many retail traders think the rise is too big and keep shorting on the grounds that it’s “too expensive,” but this is already an asset that has seen short-squeeze conditions before.
Since the last year’s low, it has accumulated gains of more than 20x; the on-chain realized cost is only about 328, while the current price is close to 4.5x the cost.
Many traders subjectively believe the huge move must pull back, and with every pump, new short orders keep getting added.
Core contradiction 💡: spot funds and futures funds come from two different groups of traders.
The size of the Grayscale ZCSH ETF is nearing $1 billion, with funds continuously flowing in for accumulation;
but on the futures side, more and more people are betting on a decline.
Market structure:
• Retail traders concentrate a large number of shorts
• ETF and spot funds keep accumulating coins
• Many of the big shorts are low-leverage and are unlikely to be liquidated in the short term
• With each round of上涨 (rising), it’s easy to trigger the next round of squeezed shorts
⚠️Key point: an extreme long-to-short ratio only indicates that most people don’t approve of the current price; it doesn’t mean the market will drop immediately.
📌 Key price levels
Resistance: 1550–1570, 1595
Support: 1440–1450, 1400, 1230–1250
Personal view: ZEC shorts are crowded, and it isn’t a comfortable target for shorting.#BNB市值超越纽约梅隆银行 #加密市场总市值重回3万亿美元 #Strategy增持950枚BTC
