Counterfeit Air Force stubbornly fights ZEC! Nearly 70% loss yet still holding on to the short, what are they really betting on?

Everyone online is watching this counterfeit air force leader’s operation as the “Top 1 in multi-coin short positions,” it’s really intense.

The ZEC short position just reduced by 521.19 coins, worth over $320k USD.
And up to now, the overall profit and loss of this short has already reached -68.48%, nearly halved with huge losses, with unrealized losses maxed out on the books.

Many people can’t understand:
Unrealized losses are almost 70%, most have already cut losses and reversed to long positions to run away.
Why does this big shot stick to ZEC from start to finish, refusing to give in, willing to significantly reduce some positions but never fully close the short, determined to keep shorting?

Actually, understanding the logic of ZEC and the current altcoin market makes it clear where his confidence comes from.
First, ZEC itself is an old-school anonymous altcoin, and the recent market rebound is far weaker than mainstream coins, with market consensus already weakening continuously, which means it has a strong valuation correction space.