News

According to CoinWorld, ZEC continues to face downward pressure, having fallen below the $300 support level (now turned resistance), and is currently trading near $245. Sellers are targeting the support area at $240-244; if this area is breached, the decline could further extend to the $200-210 region. Resistance is at $260-280, with $300 being a key resistance level. Although oversold conditions and a hammer candlestick near $240 indicate that selling momentum is weakening, a sustained rebound still requires increased trading volume and a breakout above resistance. Regulatory scrutiny and negative factors in the privacy coin sector continue to weigh on market sentiment.

ChainCatcher reported that Franklin Bi, General Partner at Pantera Capital, speculated on the X platform that the driving force behind the recent large-scale sell-off in the crypto market was not a crypto-focused trading firm, but rather a large entity from outside the crypto space in Asia. This entity has limited crypto trading counterparties, so it went unnoticed by the crypto community. Franklin Bi speculates that this entity engaged in leveraged trading and market making on an exchange → closed out yen arbitrage trades → faced an extreme liquidity crisis → received a grace period of about 90 days → attempted to recover losses through gold/silver trading but failed → was forced to close positions this week.

Foresight News reported that Simon Gerovich, CEO of Japanese bitcoin treasury company Metaplanet, posted on Twitter, "Given the recent fluctuations in our stock price, the current market environment is challenging for shareholders. However, Metaplanet's strategy remains unchanged. We will continue to steadily develop our bitcoin business, expand revenue, and prepare for the next stage of growth."