Brothers,
Today in the entire market,
The coin that is most like a 'powder keg' and easiest to explode is not ETH, not SOL,
But—
ZEC (Zcash).
Why?
Because it is now appearing simultaneously:
The largest on-chain short lost 58%
Short positions reach 23.2 million USD
Shorts are forced to increase positions in other coins to hedge (MON short position)
ZEC is being pushed towards the 'liquidation price range'
Cosine public post: ZEC's privacy design best meets regulatory expectations
US regulation has shifted towards 'easing crypto' this week
Bitcoin OG whales are flowing back to the privacy track (ZEC on-chain activity suddenly increased)
If you stack these things together, you will get a conclusion:
ZEC is currently the only coin in the market that resonates with 'shorts → regulation → sentiment → funds' in four lines.
That is to say:
ZEC's reversal is not a single coin market,
It's a track-level restart.
Today, Old Stone directly helps you turn ZEC's market into a deep, publishable long article.
① First look at the most critical point: the short liquidation structure has formed
Today's on-chain data gives us a very shocking number:
**ZEC's biggest short:
Position: 23.2 million USD
Average price: 439 USD
Floating loss: 58%
Floating loss amount: 2.72 million USD**
Brothers,
Shorts losing 5% is normal, losing 20% is not normal, losing 58% is already half a life hanging in the air.
But the most critical thing is not the loss,
But:
It hasn't exploded yet.
That is to say:
Shorts are hard resisting.
Shorts are waiting for a pullback.
Shorts are trying to hold on to the rebound position.
This type of short is the most dangerous.
Why?
Because once the price makes another 8–12% surge,
The entire 23.2 million USD short will be forcibly liquidated by the system.
And what will forced liquidation bring?
Chain liquidations, shorts being squeezed, bullish violent breakthroughs.
ZEC's next wave of increase,
It's not a technical rise,
It's a forced liquidation rise.
② The second signal: shorts begin to do 'hedge-style escape'
Look at today's on-chain data:
ZEC's biggest short is frantically increasing MON short positions,
To hedge their huge losses on ZEC.
What kind of behavior is this?
This is called:
'Desperate gambling' before surrender.
If the shorts have confidence,
Will not short other coins.
If the shorts can hold on,
Will not spread bets.
Now this behavior indicates:
Shorts have already shaken
Position pressure is extremely large
Floating loss can't hold on anymore
Are no longer confident in ZEC
Counteracting costs are too high
Start doing psychological 'escape-style operations'
Brothers, you have to understand—
The biggest market trend is when shorts can no longer hold on.
③ The third signal: Regulatory agencies suddenly collectively turn towards a major benefit for the privacy track
Today there are three regulatory news items that you must look at together:
**① The SEC chairman publicly stated:
Three types of tokens (functional, network, collectible) do not belong to securities.**
This sentence means:
Non-security privacy tokens are not the enforcement targets of the SEC.
What does ZEC belong to?
→ Optional privacy mode (transparent address starting with t)
→ No strong privacy, no strong concealment, can be traced
It is the privacy coin that best meets regulatory expectations.
② US banks approved to participate in crypto intermediary business
US banks can participate in token pricing, matching, and trading pairs.
This means:
The existence of privacy coins is included in the framework of 'tradable assets.'
③ The CLARITY Act will clarify the concept of 'ancillary assets'
This is very key:
If privacy coins are classified as 'ancillary assets',
It can circulate legally.
Brothers, do you understand?
Regulators are giving privacy coins the green light,
But only ZEC's 'partial privacy' structure can benefit the earliest.
This is not a short-term market,
This is the track being redefined.
④ The fourth signal: Cosine's post is not popular science, but direction
There are very few people in the crypto world who can influence the sentiment of the privacy track,
Cosine counts as one.
He said a key phrase today:
'ZEC's privacy design is better understood by regulators.'
It means:
ZEC can be transparent
Auditable
No enforced privacy
Not completely anonymous like XMR
Users can choose transparent addresses
Complies with anti-money laundering framework
Brothers, this kind of information is not casually posted.
This is the point where regulatory winds are named.
Did you think Cosine suddenly talked about ZEC?
No.
This is a precursor to the privacy track being revalued.
⑤ The fifth signal: The K-line structure is a standard 'strong trend two-phase launch eve'
The K-line data you provided shows:
ZEC completed three low point raises around 300
Short-term breaks 360 and 380
Above 400 is the shorts' death zone
Bullish volume gradually increases
The structure forms a complete upward channel
Typical:
Rebound → Pullback → Two-phase takeoff structure.
When the second phase of takeoff meets a 58% floating loss from shorts?
That means stepping on the gas and getting a headshot.
⑥ The sixth signal: on-chain activity suddenly rises, not retail investors, but 'old whales' are back
Today there are two key actions on the ZEC chain:
Old address awakening
Some giants start moving chips
The number of on-chain transfers increases
High usage rate of large transparent addresses
This indicates:
It's not the retail investors rushing in, it's the old players coming back.
ZEC's three major rises in history were triggered by this type of 'old whale revival':
2017 broke 400
2020 broke 100
2021 broke 300
This signal appears again now.
**Old Stone summarizes:
This round of ZEC is not a short-term coin,
It's a resonant market of 'track-level reversal + short liquidation + regulatory easing.'**
It simultaneously possesses:
Shorts are losing massively
Regulatory winds are favorable
Track expectations improve
K-line trend turns bullish
Old whales revival
Contracts will be passively liquidated
Funds are starting to position in advance
This structure is called:
'Structural reversal market.'
It's not just a rise, it's a segment increase.
Brothers, remember:
ZEC's bullish market will not start from consensus,
Will start with the screams of the shorts.$ZEC
