The massive capital flight in the derivatives market is dealing a heavy blow to the position of the leading anonymous cryptocurrency despite bottom fishing efforts from the spot side.
ZECUSDT
Perp
257.57
-7.39%
🔸 Data records 52 million USD withdrawn from the $ZEC perpetual futures market leading to nearly 3 million USD in liquidated positions pushing the token price down by 12%.
🔸 Key momentum indicators and money flow both lean heavily towards selling with the Long Short Ratio dropping to 0.923 showing short sellers are overwhelmingly dominant on the scale.
🔸 The rare bright spot comes from the spot market as data recorded an 18 million USD inflow into ZEC on February 18 reflecting that a segment of investors is still patiently accumulating at lower price zones.
With the fierce tug of war between derivative dumping pressure and quiet spot demand will you choose to catch the dip at this discounted price or wait for a safer $BTC
