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$ZEC pulled back from $1,299 to $1,098 after a short squeeze liquidated $28.37M mostly longs. VWAP at $1,074 is the level holding right now. Lose it, and this drifts toward the ETF-launch zone at $777-801, which has held as support since Ironwood and the ZCSH listing went live. The squeeze was leverage unwinding, not the ETF story reversing.