ZBT has experienced a significant decline from high levels and is currently stabilizing around 0.1247, with a gradual emergence of a rebound opportunity. From a technical perspective, clear signs of a bottoming pattern have appeared on both the 15-minute and 1-hour charts. The 0.12 level below forms a strong short-term support, which is a key defensive point.

More interesting is the movement of capital. The futures market saw a net inflow of over 12.94 million in one day, and the long-short position ratio of large accounts reached 1.1849, indicating that institutions and major players are quietly positioning long at low levels. In contrast, retail traders tend to be more bearish, creating a typical scene of "retail cutting losses while big players accumulate"—often a signal before an oversold rebound.

In terms of trading strategy, you can consider entering long positions gradually in the 0.124-0.125 range with a light position, setting a stop loss below 0.12. The short-term first target is 0.135 (a recent resistance level). If this level is broken, the next target can be 0.145. The combination of capital inflow after an oversold condition and the large account's bullish holding structure provides a relatively good safety margin and favorable odds for this rebound.