Everyone’s talking about the ZEC short squeeze—but the…
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Everyone’s talking about the ZEC short squeeze—but the position that’s still open is what I can’t stop thinking about
The headline everyone’s sharing: a trader got crushed shorting ZEC. They shorted around 32.7K ZEC near $444, ZEC ran past $1,000, and the short is sitting at roughly an $18M unrealized loss.coinmarketcap+2
What I keep circling back to: the same wallet also holds a 1.33K BTC long from around $77K, now worth well over $100M with a few million in unrealized profit. Net picture is still deep in the red, but there’s been no forced liquidation—the trade is still alive.kucoin+1
ZEC shorts got annihilated in the squeeze, and that BTC long is basically the only hedge that’s working so far.coinmarketcap+2
If you were in this spot, what would you do? Close the BTC long at some level to cap the damage, or hold through and wait for ZEC to mean-revert—even if it takes months?
#cryptocurrency
The headline everyone’s sharing: a trader got crushed shorting ZEC. They shorted around 32.7K ZEC near $444, ZEC ran past $1,000, and the short is sitting at roughly an $18M unrealized loss.coinmarketcap+2
What I keep circling back to: the same wallet also holds a 1.33K BTC long from around $77K, now worth well over $100M with a few million in unrealized profit. Net picture is still deep in the red, but there’s been no forced liquidation—the trade is still alive.kucoin+1
ZEC shorts got annihilated in the squeeze, and that BTC long is basically the only hedge that’s working so far.coinmarketcap+2
If you were in this spot, what would you do? Close the BTC long at some level to cap the damage, or hold through and wait for ZEC to mean-revert—even if it takes months?
#cryptocurrency
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