Garrett Jin Whale: Sells 35k ETH to Fund ZEC Short

Garrett Jin whale entity sold 35,000 ETH at $2,500 after withdrawing from Binance, directing proceeds to margin a ZEC short position on Hyperliquid that now carries $34 million in floating losses.

Origin funds trace to 100,784 BTC accumulated in 2018 at $7,242 per coin. The entity swapped 89,000 BTC for 900,000 ETH during 2025 at average cost above $3,500, then transferred holdings to Binance. Losses mounted with a $230 million Hyperliquid ETH long liquidation in February 2026 and a $50 million slippage wipeout on an aEthUSDT-to-AAVE swap.

With price testing upper Bollinger resistance at $2,677.08 while RSI flashes overbought at 74.04, a healthy retracement to the 50-EMA support at $2,500.79 seems probable before further continuation. The MACD golden cross at 45.27 keeps the broader structure bullish above the 200-EMA at $2,352.33, yet volatility exhaustion at the band edge signals near-term caution for leveraged longs.