A whale keeps bottom-fishing ZEC, buying more as the price falls; its 5x leveraged long position now shows an unrealized loss of $3.5 million

Odaily reports, citing Hyperbot data, that a whale has recently continued to add to its 5x leveraged long position in ZEC on every dip, buying successively around $1,170, $1,030, $970, and $904 early yesterday morning, and injected additional funds during the price decline to maintain the position. The trader now holds a ZEC long position worth about $18.5 million, with an unrealized loss of about $3.5 million. Data shows that the whale closed part of the long and reduced its position by 2,000 ZEC four hours ago, but if the price falls further to around $762, it will face liquidation risk.