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#ZEC38KShortClosed A $35M loss may not tell the whole story 👀
A Garrett Jin-linked address closed ~38K ZEC shorts in 1.5 hours as ZEC jumped 2.7%. But it reportedly still holds ~202K ZEC spot.
What caught my attention is the short may have been partly a hedge, not a pure bearish bet.
With NU7 approaching and funding elevated, the bigger story is positioning.
When spot, hedges and leverage collide, liquidations can make price action look more bullish or bearish than the underlying flow
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