🐋 ZEC giant whale "Brightly buy and secretly swallow": More short positions are collectively trapped

Today ZEC hit a high of $405, a low of $372, currently at $390, with an almost 9% fluctuation. On-chain data reveals a precise harvest:

📊 Contract structure

· Total holdings $66.71 million: shorts $40.59 million (61%), longs $26.12 million (39%)
· Unrealized profit on longs $3.94 million, unrealized loss on shorts $2.29 million — more shorts, but collectively losing
· Funding rate -0.0024%, shorts subsidize longs, but the absolute value is very low, not overheated

🐋 Whale control

· 398 whales, total holdings $108 million, nominal long-short ratio 437.59%
· 243 profit-making whales: average price $378, unrealized profit $2.85 million
· 155 loss-making whales: average price $361, unrealized loss $1.52 million

💥 Liquidation fuel

· 24-hour liquidations $5.22 million, shorts account for $4.5 million (86%), shorts liquidated $2.42 million within 4 hours

📌 Conclusion
Main players completed bottom positions around $378, pushing up to trigger targeted leveraged short liquidations. In the short term, a pullback to $382-385 could be a light long attempt; breaking $405 may trigger a short squeeze. Caution: short positions still dominate, and if it falls below $370, there is a risk of long liquidation and a long squeeze.
$ZEC