X account:ZEC May have peaked in the short to medium term and shifted to holding ZEC and NEAR short positions
BIBIBI
AT A GLANCE
Boomer closed more than 31100000 USD altcoin long positions and switched to short ZEC and NEAR, while publicly expressing a bearish view on the short- to medium-term outlook for ZEC.
Article
🔍 On-chain Detective | A Hyperliquid whale posted on X that it is bearish in the short term and stopped out of 31000000 USD altcoin long positions
According to BlockBeats,September 29, trader Boomer (X: solanadoomer1) exited ZEC、NEAR、UNI、HYPE、PUMP、ENA、AERO、ONDO、SKY and PENGU altcoin long positions, with a combined size exceeding 31100000 USD, before subsequently turning short on ZEC and NEAR.
These exits were primarily loss-realizing position closures. The total realized loss was approximately 1248000 USD, with only PUMP posting a small profit.
Approximately ZEC of long positions were closed. About 5 minutes later, the account began opening short positions in the opposite direction. Boomer subsequently posted on X that ZEC may have already topped out in the short to medium term and could first pull back to around 1000 USD, before beginning the next round of gains after several weeks of consolidation; however, Boomer still believes that 5000 to 10000 USD are reasonable subsequent targets.
The account has shifted from holding multiple altcoin long positions to holding approximately 9707000 USD ZEC and NEAR short positions:ZEC short position of approximately 8237000 USD: holding 6000 tokens at an average price of 1421.4 USD, with an unrealized profit of approximately 291000 USD。
NEAR short position of approximately 1470000 USD: holding approximately 322100 tokens at an average price of 4.63 USD, with an unrealized profit of approximately 24000 USD.
Original link https://m.theblockbeats.info/flash/369471
Key points
01
According to BlockBeats,September 29, trader Boomer exited ZEC、NEAR、UNI、HYPE、PUMP、ENA、AERO、ONDO、SKY and PENGU long positions, with a combined size exceeding 31100000 USD。
02
The report stated that these position closures resulted in a total realized loss of approximately 1248000 USD, with only PUMP posting a small profit.
03
Approximately __ZEC long positions were closed 5 minutes later, the account began shorting ZEC and subsequently also held NEAR short positions.
04
Boomer posted on X that ZEC may have already topped out in the short to medium term and could first pull back to around 1000 USD, before rising again after several weeks of consolidation; Boomer still believes that 5000 to 10000 USD are reasonable subsequent targets.
05
At the time of reporting, the account held approximately 8237000 USD ZEC short positions, including 6000 units ZEC, at an average entry price of 1421.4 USD, with unrealized profit of approximately 291000 USD。
06
At the time of reporting, the account held approximately 1470000 USD NEAR short positions, including approximately 322100 units NEAR, at an average entry price of 4.63 USD, with unrealized profit of approximately 24000 USD。
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
A long position is a bet that the price will rise, while a short position is a bet that the price will fall. According to the report, the account first accepted losses and ended its bullish bets on multiple altcoins, then established ZEC and NEAR bearish positions, indicating that its short-term trading direction has turned bearish. However, Boomer remains optimistic about the ZEC long-term targets, so his view is that prices may pull back in the short to medium term but could rise subsequently.
Why it matters to readers
More than 31100000 USD in concentrated position closures and the subsequent establishment of ZEC、NEAR short positions could draw market attention to the short-term price movements of these two assets. However, these are the positions and public views of a single trader and cannot alone prove that the market will necessarily decline.
Beginners can treat this as an example of a trader adjusting risk and market views, rather than as a buy or sell signal. Unrealized profit will change with the price, and a publicly stated target price does not mean that the price will move as predicted.
Risks and unknowns
The evidence is a retelling by BlockBeats and does not include independently verifiable on-chain records.
The evidence does not provide a link to Boomer’s original X post, so the full context of the post cannot be checked.
The position, average entry price, unrealized profit, and loss figures in the text were not independently verified in the evidence.
Related Developments
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The evidence only says “September 29”, with no specific year stated.
Whether the position was increased, reduced, closed, or reversed after the report cannot be confirmed from the evidence.
ZEC and NEAR whether the price will subsequently change in line with Boomer’s judgment remains unknown.
Related concepts
Long Position
This term is not in the glossary yet. Browse related concepts in the glossary.
