Bullish Bets Big on ZEC Short, Sets Sights on Massive BTC Long

A well-known trader named Garrett Bullish has added $87.5 million to his short position on ZEC (Zcash). Bullish, who was previously liquidated for a massive $230 million, sold 35,000 ETH worth the same amount and used the proceeds as margin to add to his existing short. This move takes the liquidation level of the position to $4,737.7.

The trader's ZEC short now stands at a significant $55.89 million in notional value, with an unrealized loss of $30.75 million after averaging an entry price of $665.84 per unit.

Bullish's aggressive trading strategy also includes plans to take on a 3x long position on Bitcoin (BTC) worth $192 million if fully executed at the current price of $78,000.