$ZEC Firmly going long.

Bubblemaps latest disclosure shows that the “1011 insider whale” agent Garrett Jin’s ZEC short position has already unrealized losses of about $1.8 million, while his HYPE long position is only unrealized gains of about $900k. Shorting ZEC is completely against the flow of regulation and institutional funds, essentially providing fuel for a short squeeze. Currently, ZEC is priced at $664, with the SEC ending its investigation and Grayscale submitting an ETF application. The biggest short still stubbornly holds on, and this position is the trigger point for a short squeeze. I’ve fully committed $450k long, just waiting to crush this most stubborn short and push it down!

1. Unrealized loss of $1.8 million, liquidation just one step away. After Garrett Jin made a huge profit of $100 million shorting BTC, he heavily invested in ETH but suffered a loss of over $200 million, leading to a total net loss of $128 million. Now the same script is playing out on ZEC—after spending $38 million to short ZEC, the price couldn’t be suppressed and instead continued to unrealized losses. Once the daily close stays above $680, the short’s remaining about $1.9 million in available liquidation profit will be wiped out. If an on-chain liquidation occurs, the entire network’s leveraged shorts will follow and explode.

2. Regulatory negative news has been fully cleared, and the compliance faucet is open. In early 2026, the SEC officially ended its more than two-year investigation into the Zcash Foundation, not only refraining from enforcement actions but also directly recognizing ZEC as an “approved privacy coin” in its Q1 report in May. Grayscale has submitted the world’s first spot ETF application for a privacy coin to the SEC. The trust currently holds about 391k ZEC. Once approved, it will open a compliant capital channel on Wall Street, with an initial inflow estimated between $500 million and $2 billion.

3. Institutions keep rushing to buy, over 30% of circulation is locked. Previously, top crypto fund Multicoin Capital has been systematically accumulating ZEC since February. Grayscale founder Barry Silbert even said ZEC is becoming a core allocation in the quantum era. On-chain data shows about 30% of the total ZEC supply is locked in privacy-shielded addresses, with privacy transactions averaging over 40% in 2026. Genuine demand is fully exploding.

The biggest short is still stubbornly holding, regulatory faucets have been turned on, institutions are frantically buying, and all three forces are converging at the $664 trigger point. Fully locking in the $450k long position, waiting for Garrett Jin’s $38 million short to be completely squeezed out, and repeating ETH’s tragedy with this iron-headed short!