A whale address goes for leveraged short positions again: $17 million heavily invested in ZEC, with an unrealized loss of $160,000

[BlockBeats] There’s a pretty interesting address that’s been getting active again lately. Over the past 7 hours, this user has continued to add to their BTC, ZEC, and SOL short positions, clearly having strong views on the market’s direction.

The most notable position is the ZEC short—its average entry price has risen from $344 yesterday to $360, and the total position size has reached $17.29 million. Honestly, that’s no small sum. When BTC’s price pulled back in the early hours today, the account briefly turned profitable, but it’s now back in the red with an unrealized loss of $160,000, mainly because of the underperforming ZEC position.

Here’s a breakdown of their holdings:

• BTC short position with 40x leverage, about $12.25 million in size, currently down $40,000 (-13%), with an average entry price of $92,000;
• SOL short position with 20x leverage, $2.24 million in size, with an unrealized loss of $150,000 (-61%), average entry price $140;
• ZEC short position with 10x leverage, $2.51 million in size, actually up $20,000 (+20%), average entry price $360.

Looking through the transaction history, this address started depositing another $200,000 into Hyperliquid on the 27th, then started trading aggressively and won 15 consecutive trades. Back in September, they turned $3 million in principal into over $30 million in paper profits in just two months, but a few mistakes in November wiped out almost all of those gains. The volatility is really something.