Zcash (ZEC) Jumps 15% to $1,359 as 10x Short Takes $899K Loss After Fed Decision

Zcash is trading near $1,359, up about 14.9% in 24 hours and 166.5% over 30 days, with a market cap of $22.93 billion. The latest leg higher came after the Federal Reserve rate decision, when ZEC pushed through $1,350 and printed highs near $1,390–$1,400.

That rally is the story in the spot market. The story in perps is simpler: a whale tried to fade the top and got run over.

Price performance: ZEC keeps stretching the short thesis

ZEC was already in a violent September trend before the Fed. Recent daily prints show the coin moving from the low $1,100s into the mid-$1,200s, then exploding after the policy announcement.

On September 17, venues showed ZEC opening near $1,248, hitting a high around $1,398, and holding above $1,350. The 30-day gain of more than 160% is why shorts keep showing up — and why they keep getting punished. A coin that has already doubled in a month does not give faded entries much room.

This is not a quiet grind. It is a squeeze market: every failed short adds buy pressure as positions are closed.

The trade: fade ZEC into the Fed, lose $899,000

On-chain watcher @EmberCN flagged the liquidation. A whale opened a 10x short on ZEC just before the Fed decision, treating $1,245 as a local top.

According to Ember:

• The trader shorted 8,120 ZEC at $1,245
• Position size was about $10.11 million
• About three hours later, after the rate decision, ZEC ran above $1,390
• The short was fully liquidated
• The loss was about $890,000 in three hours

HyperDash fills match the same tape:

The account’s 30-day perps P&L was still barely green at about +$90,400 after the hit. That is the ugly part: one three-hour fade erased almost a month of work.

The chart on HyperDash shows it in one line — equity rising through mid-September, then a vertical drop the moment ZEC ripped through the short.

Why this short failed

The setup looked clean on a short-term chart. ZEC had already ripped. The Fed event was a volatility magnet. $1,245 looked like a poke at resistance.

The market did not care. After the decision, ZEC kept going. A 10x short on a coin up more than 160% in 30 days has almost no error margin. From $1,245 to $1,355 is roughly a 9% move against the position. At 10x, that is enough to wipe the account sleeve behind the trade.

Funding collected a token $443. That is noise next to an $899,000 mark-to-market loss.

Bottom Line

ZEC’s rally is still forcing shorts to pay. Ember’s post is one liquidation. It is not the first large ZEC short to get hurt this month. Privacy-coin flows, perp crowding, and event volatility are doing the same thing: late shorts become fuel.

None of that makes ZEC “safe” at $1,359. A coin that can rise 15% in a day can give it back. It does mean fading local highs into a Fed print, on 10x, is how $10 million notionals turn into a three-hour $899,000 lesson.

Spot holders saw a breakout. The short saw a liquidation price. Same candle. Different P&L.

Written by

Nilesh Hembade

Nilesh Hembade is the Founder and Author of Coinsprobe, with 5+ years of experience in cryptocurrency and blockchain. Since launching the platform in 2023, he delivers daily, research-driven insights through market analysis, on-chain data, and technical research. His work has been featured on Binance, Bitget, and CoinMarketCap. He is also certified through Binance Academy (NFT Certificate).

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