$ZEC Ao Ying won this showdown, while Master Xi Jiu regrettably got knocked out. In just two days, the army of copy traders charging alongside Master Jiu had over a million U mercilessly wiped out by the market. Both took the same position on $ZEC , but on opposite sides: Ao Ying’s average short entry was around 1,000, while Master Jiu’s long position cost 977. Both were fully leveraged, and from the moment they opened their positions, it was clear only one could survive.
The market’s momentum favored the bears. BTC fell below 70,000, ETH dropped under 2,000, and $ZEC hit a low of 880. Many said Master Jiu lost because he failed to respect the trend. Liquidity across the entire crypto market dried up: BTC spot ETFs saw net outflows for three consecutive weeks, and ETH ETFs for as many as seven. Nvidia’s plunge dragged down U.S. stocks, putting crypto under pressure too. The market has essentially priced in a rate hike in December, so stubbornly betting on a bullish run was a real stretch.
Over the next month, the market will most likely remain weak and choppy, with a trading range of 66,000–72,000 and plenty of short-term swings. There’s also a buy wall worth more than 50 million U at 65,000. Even if it gets breached, there will probably be a rebound back to 67,000–69,000—a familiar pattern, just like when price broke through the previous resistance at 73,000.
The market’s momentum favored the bears. BTC fell below 70,000, ETH dropped under 2,000, and $ZEC hit a low of 880. Many said Master Jiu lost because he failed to respect the trend. Liquidity across the entire crypto market dried up: BTC spot ETFs saw net outflows for three consecutive weeks, and ETH ETFs for as many as seven. Nvidia’s plunge dragged down U.S. stocks, putting crypto under pressure too. The market has essentially priced in a rate hike in December, so stubbornly betting on a bullish run was a real stretch.
Over the next month, the market will most likely remain weak and choppy, with a trading range of 66,000–72,000 and plenty of short-term swings. There’s also a buy wall worth more than 50 million U at 65,000. Even if it gets breached, there will probably be a rebound back to 67,000–69,000—a familiar pattern, just like when price broke through the previous resistance at 73,000.
