ZEC drops 6% in the short term, sparking a battle between bulls and bears. On-chain, the largest long position in ZEC and the "altcoin short army leader" both significantly increased their holdings.

On January 8, according to Coinbob’s popular address monitoring, the ZEC price briefly dropped 6.4%, touching a low of $449 before rebounding to around $465. During this fluctuation, the largest long whale (0x152) on Hyperliquid holding ZEC went from profit to loss, then decisively added to their position around $459, increasing their holdings by 2,486 ZEC (approximately $1.14 million) within 10 minutes. Over the past 20 hours, they have accumulated a total long position of 9,871 ZEC (about $4.54 million). Currently, this whale holds a 10x leveraged ZEC long position worth approximately $12.35 million, with an average price of $463. Additionally, according to Coinbob’s monitoring, the “ZEC largest short” whale remains in floating loss, having not adjusted their ZEC short position recently. Their current holdings amount to about $17.48 million, with an average price of $419, and a floating loss of $1.64 million (47%). Meanwhile, the “Altcoin Air Force Leader” has continued to increase their ZEC short position over the past few hours, now holding a ZEC short position worth $2.08 million, and still adding to their position.