According to Lookonchain, a sharp liquidity pull and aggressive selling activity triggered a significant price decline for ZKJ, resulting in a wave of liquidations that saw six traders each lose more than $1 million on long positions. This event has heightened volatility and risk sentiment across the crypto market, making ZKJ a key focus for short-term traders and increasing attention on liquidation cascades in high-leverage environments (Source: Lookonchain, June 15, 2025).

According to Skew Δ, the Bitcoin market is experiencing aggressive selling pressure, though current sell volume is not significant. Long positions are being liquidated under price pressure, while passive buyers are attempting to absorb the selling activity.