2025-12-28 15:23:52

Market Overview

As of 22:00, mainstream cryptocurrencies are stable. Bitcoin hovers around $87,850, down 1.8% in the past 24 hours, fluctuating between $86,000 and $90,000; Ethereum is at $2,965, down 1.6%, oscillating within the $2,900-$3,000 range. Market sentiment remains cautious, with obvious holiday effects.

**Trading Pair Anomaly Review**

Today, a major exchange's BTC/USD1 trading pair experienced a rare flash crash, with the price plunging from $87,600 to $24,100, a 70% drop, followed by a rapid rebound within seconds. This anomaly was not caused by system failure or liquidation events but resulted from insufficient liquidity in the trading pair combined with light trading activity during the Christmas holiday—under thin trading conditions, large orders can trigger intense volatility. Risk reminder: Be cautious of liquidity when trading during the Christmas holiday.

**ZEC Independent Market**

Contrary to the overall market decline, ZEC has gained nearly 10% in the past 24 hours, showing strong performance. Contract trading activity has significantly increased, with trading volume rising to $3.8 billion (an 118.5% increase quarter-over-quarter), and open interest has grown by over 20%, reaching $1.33 billion. This surge demonstrates notable resilience, warranting attention to its subsequent performance.

**On-Chain and Positioning Trends**

Whale activity is frequent: a large holder transferred $24 million worth of ZEC from a major exchange, possibly indicating long-term confidence in the token. Regarding Ethereum staking, a major mining pool has staked a total of 154,176 ETH, worth approximately $451 million, continuously locking funds, reflecting confidence in Ethereum’s prospects.

**Risks and Opportunities**

Bloomberg analysts issue a warning that Bitcoin faces a risk of retracing to $50,000. Meanwhile, Ethereum is in a critical 96-hour window—if it closes lower this month, it will extend a nine-month downtrend, which could significantly impact market sentiment. Stay alert to risks and seize opportunities.

BTC0.02%

ETH0.23%

ZEC2.63%

USD10.01%

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MEVvictim

· 3h ago

Flash crash of 70%？ This thin trading environment is really intense. Truly brave to trade like this during the holiday. ZEC's recent counter-trend surge is quite interesting. What's the logic behind the whales transferring out? 50,000 USD... Is Bloomberg trying to scare us again? I'm a bit nervous about this critical ETH window.

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MondayYoloFridayCry

· 3h ago

Christmas holidays are indeed the testing ground for exchanges; thin markets collapse at a touch... ZEC's recent movement is outrageous, the market drops but it rises, whales are still accumulating, is it about to take off? Is the $50,000 bottom line for BTC real, or is it just another scare tactic to frighten retail investors... ETH has been falling for another month, making it 9 consecutive declines, I'm exhausted. Liquidity issues during holidays should have been addressed long ago; a flash crash is imminent.

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DecentralizedElder

· 3h ago

Christmas holiday thin trading indeed is a trap, a 70% flash crash is just too brutal ZEC's performance this round is truly outstanding, everyone else is falling while it rises Whales are turning to ZEC, is this hinting at something? We must hold this critical window for ETH, or else it will break our confidence again Bitcoin reaching 50,000? Bloomberg analysts who are they trying to scare? Holiday trading still requires caution with liquidity, everyone ZEC holdings increased by 118%, this shows how optimistic everyone is

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HashBandit

· 3h ago

that 70% flash crash tho... ngl back in my mining days we'd get liquidated for way less. thin liquidity during holidays is literally asking for it, yet people still yolo market orders like it's peak bull season lol

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HalfIsEmpty

· 3h ago

Flash crash of 70%？The liquidity trap during the Christmas holiday is truly outrageous. In this thin trading environment, a single large order can wipe out the market. ZEC surged 10% against the trend this wave, and whales are still transferring coins... Interesting, worth watching closely. Again talking about Bitcoin retracing to 50,000? Who is Bloomberg analysts trying to scare? They say this every year. The real danger is the 96 hours at the end of the month for Ethereum. Nine months of continuous decline, it's easy to lose confidence. Those still trading during the Christmas holiday are true warriors. I choose to sleep.

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LiquidationKing

· 4h ago

Flash crash of 70%? Haha, that’s probably fake. This thin trading environment really is a paradise for cutting leeks. --- Why can ZEC withstand the decline? Is this the rhythm of taking off? --- A whale transferred out 24 million ZEC. I bet this guy is optimistic. --- ETH staking 154k coins. The confidence is real, just worried it might drop again later. --- 50,000 BTC? Bloomberg is scaring people again. They say it every year, but it never happens. --- Liquidity during the Christmas holiday is so poor. I’d rather stay low-key and be honest. --- That 10% increase in ZEC is ridiculous. Is the contract heat rising? Need to see if it can hold. --- Feels like the holiday effect has wrecked the market; nothing can move. --- Is the big player bottom-fishing ZEC or what? I don’t quite understand. --- 96-hour window period, ETH’s suspense is quite intense.

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