
ZEC price could face a serious test if a whale’s short position gets liquidated near $2,540.28. The trade is large enough to attract attention, but the bigger question is whether Zcash can break its previous $1,250 peak and enter price discovery again.
Garrett Jin reportedly closed his entire 1,332 BTC long, worth approximately $105.4 million, for a $2.7 million profit. He then shifted his focus to shorting ZEC.
His reported short position now contains 39,760 ZEC, valued at approximately $46.65 million, with liquidation set around $2,540.28. That creates an obvious market question: will ZEC price rise far enough to force the position closed?
If the token reaches that level, the short could face liquidation pressure. However, the trade itself doesn’t guarantee a rally or a big collapse immediately, but it does affects sentiment negatively. More sellers could still push ZEC lower, especially if the broader market loses momentum.
The $1,250 level remains important because it represents the previous peak mentioned in the supplied data. If ZEC price crosses that resistance decisively, the token could enter another price discovery phase.
From there, $2,500 becomes a possible upside scenario rather than an established target. The liquidation level near $2,540.28 sits slightly above that round-number area, making the whale’s position an easy reference point for traders watching the chart.
But reaching $2,500 would require sustained demand. A short squeeze alone may not be enough to support the move.
On the downside, the supplied support levels are $740 and $550. If selling pressure increases, ZEC could revisit those areas. A deeper decline would also weaken the argument that the token is preparing for another major breakout.
The risks aren’t only technical. Grayscale’s official SEC filing highlights several concerns surrounding ZEC, including exchange delistings and regulatory scrutiny.
The filing mentions that ZEC has been delisted from multiple exchanges since 2019, including Coinbase UK, Bittrex and OKX. It also notes that Binance previously considered delisting the token because of privacy-related concerns.
Other exchanges could face similar pressure. Increased regulatory scrutiny may negatively affect ZEC price, particularly if regulated platforms become less willing to support privacy-focused assets.
That creates an uncomfortable contradiction for Zcash. Privacy is its core value proposition, but the same feature could make adoption harder across regulated markets.
The bullish scenario is straightforward: ZEC price breaks above $1,250, enters price discovery and eventually approaches $2,500 or higher. The bearish scenario is just as clear, with increased selling potentially pushing the token toward $740 or $550.
The whale’s $2,540.28 liquidation price adds another layer to the discussion, but it shouldn’t be mistaken for a guaranteed market target. For now, ZEC price remains caught between renewed upside expectations and the regulatory risks that could limit its next move.
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