Bullish Closes Massive ZEC Short, Booked $35M Loss Amid 122% Price Surge

Garrett Bullish, a prominent trader on Hyperliquid, has closed his largest short position on ZEC (Zero Exchange Coin), incurring a significant loss of $35.44 million over an 86-day period.

The trade began with a bet against ZEC at $656.31 and ended when the price rose to $1,458.82, resulting in a substantial gain for longs while Bullish took on a massive loss.

Interestingly, despite this setback, Bullish managed to turn his position profitable by withdrawing 202,077 ZEC from Binance at an average price of $437 since December 2025, effectively offsetting the futures loss.

The current market analysis suggests that the price of ZEC is currently situated within its Bollinger Bands, with upper resistance at $1570.26 and lower support at $1418.31.