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legend1234
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Brothers, absolutely do not try to bottom-fish and go long on $ZEC! Some people in the dynamic group are shouting to bottom-fish, still thinking about the previous rally, but that's actually impossible now.
OKX order book shows this rebound is extremely weak in volume; all the buying is small retail orders, while big players have been placing sell orders around 1332, a typical bull trap. Don't catch the falling knife.
哆来咪币
Brothers, absolutely do not try to bottom-fish and go long on $ZEC! Some people in the dynamic group are shouting to bottom-fish, still thinking about the previous rally, but that's actually impossible now.
OKX order book shows this rebound is extremely weak in volume; all the buying is small retail orders, while big players have been placing sell orders around 1332, a typical bull trap. Don't catch the falling knife.
Now, why does ZEC still have to fall:
First, ETF funds are voting with their feet. Grayscale Zcash spot ETF saw a net outflow of as much as $93.6 million this week, with no single day of positive net inflow since September 22. Previous buying has now turned into selling pressure.
Second, the hacker laundering incident has completely shaken institutional confidence. After Bitget was hacked for $387 million, on-chain investigators found hackers laundering 2746 ZEC through privacy pools. ZEC originally hoped to attract Wall Street via ETFs, but it became a money laundering tool, causing institutions to flee immediately.
Third, the bulls themselves have become the biggest fuel. The previous 253% surge in ZEC was driven entirely by short squeeze liquidations. Now that the price has dropped, bulls who bottom-fished around 1333 have been liquidated for $76.59 million, 2.5 times the short liquidation volume. The more retail investors bottom-fish, the worse it falls.
Technically, 1270-1300 is the key support; if it doesn't hold, the next target is 1155
$BTC $ETH #美联储与欧洲央行将公布9月会议纪要
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