Garrett Jin Initiates $21.73M Short Position on Zcash via Hyperliquid
- Short Position Size: Garrett Jin has initiated a $21.73 million short position on Zcash via the Hyperliquid platform, with an entry price of $418.90 per ZEC; approximately $4.93 million has been executed, leaving $16.8 million unfilled, which, if completed, would make him the largest ZEC holder on the platform, significantly impacting market dynamics.
- Successful Trading Record: Jin's previous two Zcash trades generated a combined profit of $11.66 million, demonstrating his successful strategy in the Zcash market; this new short position continues his bet against Zcash price appreciation, potentially enhancing his market influence further.
- Bitcoin Position Losses: In contrast to his success with Zcash, Jin's long position of 1,268 BTC is facing unrealized losses exceeding $20.09 million, with an entry price of $76,117 and a current market price around $60,411, highlighting the risks associated with his Bitcoin investment.
- Increased Market Attention: Given the substantial capital involved in Jin's transactions, market observers and blockchain analysts are closely monitoring his trading activities, particularly his Zcash short position on Hyperliquid, as traders await whether he will complete the execution of the remaining order.
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Technical Analysis for BTC
Technical Sentiment Analysis for Bitcoin (BTC). As of , Bitcoin (BTC) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 2 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for BTC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, BTC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Bitcoin (BTC) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 52309.428 | 55054.809 | 57971.228 | 60716.609 | 63633.028 | 66378.409 | 69294.828 |
| Fibonacci | 55054.809 | 57217.617 | 58553.801 | 60716.609 | 62879.417 | 64215.601 | 66378.409 |
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