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ZEC is pulling back sharply, but the move looks more likeprofit-taking + leverage unwinding after a very fast rallythan a new negative Zcash-specific shock.
ZEC briefly pushed above$1,600–$1,650, then dropped around6%+.
The rally had been extremely strong, so traders locking in gains can create heavy selling pressure.
Derivatives positioning also amplified the move; open interest in ZEC has fallen as leverage gets flushed.
$ZEC #BTCPullbackAltRotation #USIranRiskPremium
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