Zcash has just hit a new all-time high price exceeding $700, causing significant losses for investors holding short positions. This surge is drawing attention from market analysts and raising questions about potential regulatory measures. 60,870 ZEC in short positions on Hyperliquid are now facing over $22 million in unrealized losses as Zcash continues to rise, prompting scrutiny from financial experts. No official statements have been released by the Zcash developers or Hyperliquid executives regarding this specific situation. The impact of this event raises questions about market volatility and potential risks associated with leveraged trading in crypto markets.