A $97 million liquidation occurred involving a ZEC short position that increased by 130%. The liquidation price affected multiple long positions held by whales, each valued around $20 million.
The significant market movement resulted in the liquidation of large long positions, which were impacted by the price fluctuations of ZEC. As a consequence, traders faced challenges regarding their long investments as the market shifted.
Analysts noted that the short position’s increase reflects a changing sentiment among investors regarding ZEC’s price trajectory. The liquidation events often lead to heightened volatility, prompting traders to reevaluate their strategies in the current market environment.
The price point for the long positions was approximately $6.54 million, illustrating the magnitude of the liquidation’s impact on larger stakeholders in the market. This situation serves as a reminder of the risks involved in trading volatile assets.
