Zcash Kraken Withdrawal May Herald Upside as Shorts Face Liquidation Stress
The post Zcash Kraken Withdrawal May Herald Upside as Shorts Face Liquidaticom. A new wallet withdrew 7, 714 ZEC valued at $4. 12 million from Kraken, marking a significant ZEC Kraken withdrawal. This move tightens exchange supply, counters bearish derivatives positioning, and historically precedes upside moves, with ZEC trading near $536 amid short liquidations. Massive 7, 714 ZEC outflow from Kraken reduces available supply on exchanges. New wallet with no prior activity suggests long-term holding intent over short-term trading. $1. 77 million in short liquidations versus $182, 000 longs highlights growing bearish stress, per CoinGlass data. ZEC Kraken withdrawal of 7, 714 coins worth $4. 12M signals accumulation amid short dominance. Zcash eyes $550 resistance with bullish spot action. Explore analysis now! What is the ZEC Kraken withdrawal and its market impact? ZEC Kraken withdrawal involved a newly created wallet pulling 7, 714 ZEC, approximately $4. 12 million, from the exchange in coordinated batches. This activity, absent prior history, indicates strategic accumulation rather than immediate trading. Exchange supply tightened as a result, weakening sell pressure despite no instant price reaction due to derivatives liquidity. Why are Zcash exchange outflows significant for price trends? Zcash has defended the $300-$320 demand zone multiple times, forming a rounded bottom that signals trend exhaustion. Price reclaimed $401 and advanced to $528, now testing $520-$550 resistance near $536. Pullbacks remain shallow amid positive MACD momentum. Historically, similar ZEC outflows from exchanges like Kraken have led to delayed upside rather than spikes, contradicting bearish derivatives sentiment. 35% short accounts versus 34. 65% long, yielding a 0. 53 Long/Short Ratio. Despite this, ZEC forms higher lows above support, indicating positioning risk over trend strength. Shorts continue adding exposure without price breakdowns below $401, eroding bearish efficiency. The ZEC Kraken withdrawal executed in batches from a dormant new wallet.
