A significant short seller of Zcash (ZEC) has reduced its position, reallocating funds to short Bitcoin (BTC) and Ethereum (ETH). The seller closed over $5 million of its ZEC short positions, leaving a remaining position of approximately $8.02 million with an unrealized loss of $1.17 million. Originally, the position was opened at an average price of $210 on March 10. The released margin was used to open new short positions on BTC and ETH. The BTC short involves 160 BTC with 20x leverage, reaching a position size of $13 million at an average price of $80,441. The ETH short involves 1,866 ETH with 15x leverage, totaling $4.27 million at an average price of $2,286. Both positions are actively being expanded.