A $1.17 million short on $ZEC just got closed.
The fill was $1,265.99. $ZEC is now around $1,268.72, down 4.18% in the last 24 hours.
Plain version: someone bet the price would keep falling, then paid to get out of that bet.
That does not mean the price goes up next. One wallet closing one position is not the whole market.
It is still worth watching. The 24-hour range is $1,213.33 to $1,335.22, so the price has been moving fast in both directions.
If shorts keep closing like this, sellers are getting less sure. If new shorts pile in instead, that tells a different story.
Would you read this as selling pressure easing, or just one trader cutting losses?
#ZEC #Crypto
The fill was $1,265.99. $ZEC is now around $1,268.72, down 4.18% in the last 24 hours.
Plain version: someone bet the price would keep falling, then paid to get out of that bet.
That does not mean the price goes up next. One wallet closing one position is not the whole market.
It is still worth watching. The 24-hour range is $1,213.33 to $1,335.22, so the price has been moving fast in both directions.
If shorts keep closing like this, sellers are getting less sure. If new shorts pile in instead, that tells a different story.
Would you read this as selling pressure easing, or just one trader cutting losses?
#ZEC #Crypto
