Zcash News Today: Zcash Bulls Surpass Shorts with $16M Profit Compared to $14.5M Deficit

On November 7, Zcash (ZEC) saw a significant surge in liquidations, with total contract liquidations on the network hitting $18.8 million within 24 hours. This figure was surpassed only by

(BTC), (ETH), and (ADA). Data from Coinglass shows that long positions accounted for $2.15 million in liquidations, while short positions soared to $16.65 million, signaling heightened speculative activity in the market, as reported by a .

The largest

short on Hyperliquid, held by address 0xd47, suffered an unrealized loss of $14.5 million—a drop of 250%—after ZEC’s price jumped 15% to $586. This position, opened on October 11, saw the trader repeatedly increase their stake as prices rose, yet the account remains active despite the growing losses, according to a . In contrast, a bullish whale on Hyperliquid (0x96e) took advantage of the rally, building a $16.33 million long position and achieving an 87% unrealized profit in just three days. This trader’s bold use of leverage and precise timing highlight increasing confidence in ZEC’s near-term outlook, as described in a .

Strong buying momentum has fueled ZEC’s price, which has climbed 48.74% over the past week and 15.53% in the last day, according to CoinMarketCap. One whale wallet secured $2.7 million in unrealized profits in three days by acquiring 32,000 ZEC at an average price of $513. The liquidation price for this position is $373.13, giving the trader a comfortable margin as ZEC trades above important technical levels, according to a

.

Technical analysis supports the bullish outlook. ZEC is trading above both its 20- and 50-period moving averages, with the RSI approaching overbought levels at 67.98 and the MACD indicating continued upward momentum. Experts believe that if ZEC stays above $520, it could challenge $575, but a drop below $495 might lead to a pullback toward $452, according to an

. The Bollinger Bands have also widened, reflecting increased volatility, with immediate resistance seen at $542.69.

ZEC’s recent activity stands in contrast to the broader crypto market. While Bitcoin and Ethereum ETFs experienced outflows of $566.4 million and $219.4 million respectively on November 4,

(SOL) ETFs attracted $14.9 million in new investments, showing a shift in investor interest toward alternative coins. ZEC, meanwhile, has shown resilience against macroeconomic challenges, such as the Federal Reserve’s liquidity measures, which have not sparked a widespread crypto rally.

Despite the positive sentiment, risks remain. The largest ZEC short on Hyperliquid is still open, and the token’s recent 16% weekly drop has raised questions about its sustainability. Nonetheless, institutional investors seem to be buying during market dips, with ETFs (excluding Grayscale’s GBTC) seeing a net inflow of 5,000

on November 4, even as the market faced a broader selloff.

ZEC’s recent performance highlights a broader trend in crypto trading, with privacy-oriented coins gaining popularity as investors look for alternatives to major blockchains. Whether ZEC can sustain its momentum will depend on its ability to hold crucial support levels and manage the risks of leveraged trading in a volatile market.

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