ZK is currently facing a short-term unlocking supply shock. Under selling pressure, the price is suppressed in the 0.0160-0.0170 USDT range, and caution is needed regarding the continued impact of ongoing unlocks on the weak structure. If Bitcoin holds firmly above $75,000 and tests $78,000, it will provide positive sentiment support for ZK; conversely, falling below $74,000 will significantly increase downside risk. In the medium and long term, it is advisable to pay attention to macro fluctuations and the impact of AI-driven high-frequency trading, with a focus on tracking protocol ecosystem and on-chain application progress. During phases of volatility, risk control should be prioritized, making it suitable for gradual, low-price allocations while being alert to high volatility risks caused by irrational market movements.

In the early hours of April 17, the platform unlocked approximately 17.314 million ZK tokens, leading to a noticeable supply shock. Although ZK prices quickly surged to 0.01782 USDT after market open, they soon retraced, closing at 0.01702 USDT, with daily volatility significantly amplified. The next day’s upward momentum failed to continue, with prices falling to a low of 0.01605 USDT and closing at 0.01620 USDT. Technically, this formed a candlestick with a long lower shadow, indicating that selling pressure from unlocking dominates the short term. Further unlocking may continue to suppress prices, so caution is advised.

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.

This week, Bitcoin broke key resistance levels, standing above $74,000 on April 14 and challenging $75,000. During this period, ZK also benefited, with prices rising from 0.01596 USDT on April 13 to 0.01702 USDT on April 17, marking a cumulative increase of over 6%. This rally was driven by the weakening of negative gamma effects in the derivatives market, which led to a multi-day recovery in risk appetite. In the short term, if Bitcoin consolidates above $75,000 and breaks the $78,000 resistance zone, ZK sentiment may continue to be supported. Conversely, if Bitcoin falls below $74,000, bearish pressure may intensify again.

Bitcoin has surpassed a four-week high, rising above $74,000. Analysts identify $75,000 as a critical "volatility release point," where derivative market negative gamma effects may amplify price fluctuations. This level coincides with Bitcoin's 100-day moving average, a key resistance in January. Breaking $75,000 could accelerate an uptrend, while a pullback may increase downward pressure. The $80,000–$80,600 range is a positive gamma zone with lower volatility, and the 200-day moving average at $87,519 serves as a long-term reference.

Analysis: Bitcoin breaks four-week high, key price range may intensify market volatility

Bitcoin recently surpassed $75,000 for the first time in 73 days, facing resistance near $78,000 with $74,000 seen as a critical support level for further gains. Market views diverge: bears cite weak macro liquidity and reliance on short-covering, while bulls highlight strong whale accumulation and potential breakthroughs above key moving averages. The broader market shows mixed signals amid geopolitical developments and fluctuating investor sentiment.

Trading moment: BTC encountered resistance at 78K, and it needs to hold 74K to aim for a breakthrough.

External risks from macro geopolitical conflicts and AI-driven high-frequency strategies bring uncertainty and volatility. Macro events such as US Navy blockade risks in the Strait of Hormuz and the unresolved selection of Federal Reserve Chair continue to impact market sentiment in the short term. Meanwhile, AI trading strategies have already earned significant profits in certain tokens, but also lead to irrational buying and selling, potentially intensifying market fluctuations. Regulatory attention on stablecoins and AI compute centers will have a medium- to long-term impact on capital flow efficiency and cross-border capital allocation. In this environment, ZK should focus on the interplay between macro and technological trends, manage volatility appropriately, and in the medium to long term, concentrate on protocol ecosystem and on-chain application developments.

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ZK price today is 0.02, with a live price change of -4.78 in the last 24 hours. Convert, buy, sell and trade ZK on Bybit.

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