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ZEC experienced a rollercoaster on January 8th. The price rebounded from a low of $449 to around $465, with a drop of up to 6.4%. During this fluctuation, a whale called 0x152 had a long position on Hyperliquid that was temporarily in loss, but this guy didn't back down.
When the price retraced to $459, this long whale took action. Within 10 minutes, he added 2,486 ZEC, worth $1.14 million. Even more impressive, this was just a snapshot of his additional positions over the past 20 hours — the total increase reached 9,871 ZEC, totaling $4.54 million. Currently, he holds a long position of ZEC with 10x leverage worth $12.35 million, with an average entry price locked at $463.
Things are tough on the short side. The largest short whale for ZEC currently has a position worth $17.48 million, with an average entry price of $419, and is currently in a floating loss of $1.64 million, a loss of 47%. Even more heartbreaking, it has shown no signs of adjusting its position recently, seeming to be a bit overwhelmed.
But the situation is still evolving. The altcoin short army leader has been continuously increasing his ZEC short positions in the past few hours, raising the short position to $2.08 million, and is still adding more. The bulls and bears are really going at it.