$ZEC Yesterday, it briefly fell about 14%. According to Binance News, the main reason was a concentrated liquidation of leveraged long positions. Privacy coins had surged recently, and when crowded longs encounter a decline in overall risk appetite, the pullback is naturally faster.
Meanwhile, The Block reported that Strategy and Metaplanet were removed from the index in MSCI’s November rebalancing. For listed companies holding large amounts of $BTC , demand from passive funds has taken another hit.
Taken together, this suggests the market currently has little tolerance for highly leveraged, crowded assets. I’d pay more attention to funding rates and changes in open interest rather than just price movements.
#ZEC #MSCI
For reference only. This does not constitute investment advice.
Meanwhile, The Block reported that Strategy and Metaplanet were removed from the index in MSCI’s November rebalancing. For listed companies holding large amounts of $BTC , demand from passive funds has taken another hit.
Taken together, this suggests the market currently has little tolerance for highly leveraged, crowded assets. I’d pay more attention to funding rates and changes in open interest rather than just price movements.
#ZEC #MSCI
For reference only. This does not constitute investment advice.