Zcash News Today: Whale's ZEC Short and BTC Long Signal Halving-Driven Market Shift

A whale shorted 4,574.87 ZEC (worth $2.66 million) with 5x leverage on November 23, 2025, while simultaneously opening a 20x leveraged BTC long position of 367.36 BTC ($31.63 million), according to on-chain analytics from ChainCatcher. This move highlights a strategic shift by a major player amid Zcash's (ZEC) recent surge, driven by its upcoming November 2025 halving event, which will reduce block rewards by 50% and tighten supply dynamics. The trader's actions contrast with broader market volatility, as ZEC held its ground during a $2 billion liquidation event earlier in the week.

ZEC's price has surged to a 2018 high of $700, with investors positioning it as a privacy-focused hedge asset amid growing demand for scarce digital assets. The halving narrative, combined with reduced selling pressure from miners and increased ZEC staking in shielded pools, has amplified bullish sentiment. However, technical indicators signal caution: the weekly RSI is in overbought territory, and the price is consolidating near a critical $789–$894 resistance zone https://coinpedia.org/price-analysis/zcash-price-surges-can-zec-reach-1000-overtaking-ada-and-hype-to-break-into-the-top-10/.

Meanwhile, ZEC faces headwinds from large short positions. The largest ZEC short on Hyperliquid, opened in October, now holds 60,870.43 ZEC with a $22.04 million unrealized loss. The whale added $5 million in margin to sustain the position, which entered at $360 and now risks liquidation at $1,112.45 https://www.weex.com/news/detail/the-largest-short-position-on-zec-on-hyperliquid-has-increased-to-a-20-million-unrealized-loss-with-an-additional-5-million-margin-added-230789. Another Roobet-affiliated whale lost $10.4 million after its ZEC short position was liquidated on November 20. These losses underscore the risks of leveraged bets against ZEC amid its rally.

The ZEC shorting activity contrasts with BTC's strength. The BTC long position opened by the whale aligns with broader market expectations of a post-liquidation rebound, supported by BlackRock's recent ETF outflows and Fed policy uncertainty https://longbridge.com/en/news/266084762. Analysts note that ZEC's supply shock narrative - similar to BTC's pre-halving rallies - could persist into 2026, even as short-term volatility remains.