ZEC this wave can consider continuing to short. That negative fee alone cannot change the situation at all. If you really want to reverse the trend, the annualized rate needs to reach a few hundred, then institutions might consider reverse operations.

The view remains unchanged. Those with 2x shorts don't need to worry too much about stop-loss; since the downward trend is already clear, breaking previous highs is basically unlikely. This position is still quite stable.

For 3-4x shorts, as previously mentioned, just set a stop-loss around 550. Negative fees are originally just a small issue; if the market makers want to push higher, they need real skill. Let's just wait and see how long it can hold up.