Currently, the battle between bulls and bears for ZEC has reached a critical point. Funding rates have become the battleground where the fiercest competition occurs—bears are exerting maximum effort to pressure the market and profit from panic sentiment, but the long positions show a different resilience, hinting at a possible counter-move behind the scenes.

Market sentiment is now divided. You can see two groups: one engaging in high-frequency trading to exploit arbitrage, and the other betting on the next breakout trend. The most important thing to watch out for at this moment is a sudden liquidity withdrawal—if it happens, it could trigger explosive volatility.

Changes in open interest are worth paying attention to. They often serve as key signals for trend acceleration. From a technical perspective, the price is stuck at a crossroads; as long as momentum continues in either direction, it could trigger a chain reaction. The performance of BTC and ETH is equally critical, as the overall market rhythm often starts with these two giants.

So now is the time to patiently wait for signals and manage risks carefully, because the next directional move will be crucial.