Garrett Jin Closes $55M ZEC Short With $35M Loss

Garrett Jin entity finally exited its ZEC short, closing a $55.43 million position at 4 a.m. for a $35.44 million loss after holding the trade three months.

The whale shorted 38,000 ZEC at an average $656 and covered at $1,459. The same address now carries a 1,333 BTC long worth $109 million with $4.75 million unrealized profit after selling 35,000 ETH three days earlier. On-chain holdings still show 11,570 BTC ($944 million) and 200,200 ZEC ($309 million) with cost bases of $7,242 and $437 respectively.

Price action on the four-hour chart shows ZEC trading inside the Bollinger Bands and pressing the upper band at $1,574.30 while the MACD prints a death cross. With the 50-EMA sitting at $1,360.79 as concrete support and RSI at 64.75, the structure favors a measured retracement toward that level before any continuation higher.