ZEC has fallen to this extent, and yet the whale added another 8605 coins: the long vs. short battle from last night isn’t over yet
Just after I finished writing about ZEC’s large short positions last night, today on-chain showed a completely opposite scene.
The addresses related to the ZEC whale continue to buy from the exchange, adding roughly 8,605 ZEC. Now the six related addresses together are already holding 65,158 ZEC, with their position size up by about 15% compared to before.
What’s most interesting isn’t the phrase “the whale bought.”
It’s that ZEC has clearly pulled back from recent highs, and some high-leverage longs are currently taking floating losses. In this situation, big capital is still continuing to accumulate spot.
So today my view has started to shift compared with last night:
For now, I’m not willing to keep chasing shorts on ZEC.
The reason is simple— a high-level pullback is flushing out leverage, but the big spot capital hasn’t withdrawn at the same time. If selling pressure then starts to fade, and these spot chips keep staying on-chain, I’ll pay more attention to the next round of rebound rather than continuing to bet on a straight-line drop.
That said, I also won’t chase longs just because the whale bought.
What I’m really watching today is: after deleveraging ends, can the price show up with renewed, active buying?
Last night, it was the shorts making a move.
Today, it’s the spot whale continuing to buy.
Both sides have already put their money on the table—now let the price tell us who’s wrong.
$ZEC
#内容挖矿
Just after I finished writing about ZEC’s large short positions last night, today on-chain showed a completely opposite scene.
The addresses related to the ZEC whale continue to buy from the exchange, adding roughly 8,605 ZEC. Now the six related addresses together are already holding 65,158 ZEC, with their position size up by about 15% compared to before.
What’s most interesting isn’t the phrase “the whale bought.”
It’s that ZEC has clearly pulled back from recent highs, and some high-leverage longs are currently taking floating losses. In this situation, big capital is still continuing to accumulate spot.
So today my view has started to shift compared with last night:
For now, I’m not willing to keep chasing shorts on ZEC.
The reason is simple— a high-level pullback is flushing out leverage, but the big spot capital hasn’t withdrawn at the same time. If selling pressure then starts to fade, and these spot chips keep staying on-chain, I’ll pay more attention to the next round of rebound rather than continuing to bet on a straight-line drop.
That said, I also won’t chase longs just because the whale bought.
What I’m really watching today is: after deleveraging ends, can the price show up with renewed, active buying?
Last night, it was the shorts making a move.
Today, it’s the spot whale continuing to buy.
Both sides have already put their money on the table—now let the price tell us who’s wrong.
$ZEC
#内容挖矿