An old whale with 50k BTC switches to ETH and shorts ZEC, with a liquidation price of 1137, now at 601. What are they betting on?

Crypto news: A whale address has increased its ZEC short position by 3,012.57 coins on the HyperLiquid platform, roughly worth $2.232 million. The address’s total position size has reached $34,545,802.40, with current profit and loss of +$1,438,760.67 (+12.49%). The current coin price is $601.43, and the liquidation price is $1,137.11. This whale is an OG address that previously held more than 50,000 BTC; it has been inactive for the past 8 years, and recently has gradually rotated some BTC into ETH. Its actions have repeatedly closely tracked Trump’s remarks and developments in U.S. policies.