ZK benefits from Bitcoin momentum and an environment of low leverage, which provide upward impetus. However, the upcoming unlock of 17.314 million tokens may result in short-term supply pressure, with $0.017 acting as a key resistance level at present. Investors are advised to closely monitor the pace at which sell-off pressure post-unlock is absorbed, guard against 'buy the rumor, sell the news' volatility risks, adopt a short-term strategy of selling into strength and accumulating on dips, and wait for price stabilization or sentiment recovery before increasing positions.

Recently, the open interest in Bitcoin futures has halved from its peak last October, indicating a significant increase in market deleveraging. In such low-leverage conditions, limited capital inflows can sufficiently drive price volatility. Meanwhile, Bitcoin recently broke a four-week high and is approaching a key volatility release point; the negative gamma effect of derivatives may further amplify price swings. As a small-cap asset within the ecosystem, ZK is poised to gain short-term positive sentiment in this context, but heightened volatility in the derivatives market could also create spillover effects that investors should be wary of.

Bitcoin futures open interest has halved from $42 billion in October 2025 to $21 billion, indicating a deep market deleveraging. Current low leverage means even small capital inflows can significantly impact prices. Funding rates have fluctuated sharply between -12% and +7%, showing rapid shifts in market sentiment. Despite ongoing geopolitical tensions, no major liquidations have occurred since early February, reflecting a healthier position structure. Bitcoin awaits a clear directional trend amid heightened market sensitivity.

Analysis: The market has undergone a round of deep deleveraging, and Bitcoin is waiting to choose a direction.

zkSync will unlock approximately 17.314 million tokens at 00:00 (Beijing Time) on April 17, representing a market value of about $2.66 million. This unlock constitutes a notable proportion of current circulating supply and is highly likely to create significant short-term selling pressure. On a daily chart basis, ZK's price recovered from a low of $0.01491 on April 6 to a high of $0.01703 on April 16, accompanied by rising volume, but the unlock window may trigger a concentrated profit-taking wave, causing strong resistance near the $0.017 level. Traders should pay close attention to how selling pressure is absorbed post-unlock to mitigate risks associated with 'buy the rumor, sell the news' events.

According to ChainCatcher and Web3 asset data platform RootData, zkSync (ZK) will unlock approximately 17.314 million tokens valued at about 2.66 million USD on April 17 at 00:00 Beijing time.

RootData: ZK will unlock tokens worth approximately $2.66 million in one week.

ZKsync

UBS: Still expects the Federal Reserve to cut interest rates by 50 basis points later this year.

China expected to keep benchmark lending rates steady after strong GDP data

The European Central Bank will raise interest rates in June as the Iran war drives inflation higher this year, a Bloomberg survey showed.

Important news from last night and this morning (April 16 - April 17).

Bank of Japan Governor: We need to simultaneously address rising energy prices and economic downturn risks; policy-making is very difficult at this stage.

BOJ chief avoids hints of April rate hike, shattering hawkish market bets

ECB policymakers play down April rate hike chances

Declining energy prices have moved the euro-zone economy back toward the European Central Bank’s base case and may mean interest-rate increases aren’t needed, according to Governing Council member Primoz Dolenc.

Fed’s John Williams Signals Support for Holding Rates Steady Ahead of FOMC Meeting

Israeli envoy warns of reaction if threatened, straining Israel-Iran relations

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ZK price today is 0.02, with a live price change of -0.13 in the last 24 hours. Convert, buy, sell and trade ZK on Bybit-eu.

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