SpaceX (SPCX) recently pulled back over 20%-30% from its peak, and some are still shouting 'buy the dip'? 😱😱
Honestly, seeing SPCX tank from around 229 to about 150, my first reaction was, who would dare to catch this falling knife?
But then I noticed the perpetual contract funding rate is still hovering in positive territory (currently around 0.01%-0.06% range), and wow, a bunch of folks are still bullish, and this scene feels all too familiar, reminiscent of when I caught BTC at 69400. 😅😅
However, I’m not here for self-deprecation; I’m here to throw some cold water on the hype. The actual float of this coin is only about 4-5%. It rockets up when it’s bullish, but when it crashes, you realize it’s just paper thin.
The chips are highly concentrated, and the structure is like a ticking time bomb, largely disconnected from short-term fundamentals. How do institutions see it? KeyBanc just initiated coverage with a 'neutral' (Sector Weight) rating, and they didn't even provide a target price.
Current valuations have reached about 29 times the projected sales for 2027. What you’re buying isn’t today’s SpaceX, but a dream three years down the line. Dreaming is fine, but don’t bet the farm on it.
On-chain and perpetual position data also indicate that smart money is under significant short pressure (some platforms show a notable percentage of large players are short), with some big whales showing clear unrealized losses on their long positions.
Looking at the broader environment, the South Korean stock market triggered multiple circuit breakers today, BTC dropped below 63000, and the fear and greed index has plummeted to 24. In times like this, trying to catch a falling knife on low float + high valuation assets isn’t bravery; it’s likely throwing money away.
Tiny float + outrageous valuation + cautious smart money + market-wide panic = high-risk signal. For those looking to buy the dip, ask yourself: can your position handle another 30% drop? If not, it’s better to wait it out.
Cash in hand is always stronger than anything else; maintain a safe margin to prepare for black swan events. $SPCX $DEXE $ARX #SpaceX将纳入彭博全球大盘指数
Honestly, seeing SPCX tank from around 229 to about 150, my first reaction was, who would dare to catch this falling knife?
But then I noticed the perpetual contract funding rate is still hovering in positive territory (currently around 0.01%-0.06% range), and wow, a bunch of folks are still bullish, and this scene feels all too familiar, reminiscent of when I caught BTC at 69400. 😅😅
However, I’m not here for self-deprecation; I’m here to throw some cold water on the hype. The actual float of this coin is only about 4-5%. It rockets up when it’s bullish, but when it crashes, you realize it’s just paper thin.
The chips are highly concentrated, and the structure is like a ticking time bomb, largely disconnected from short-term fundamentals. How do institutions see it? KeyBanc just initiated coverage with a 'neutral' (Sector Weight) rating, and they didn't even provide a target price.
Current valuations have reached about 29 times the projected sales for 2027. What you’re buying isn’t today’s SpaceX, but a dream three years down the line. Dreaming is fine, but don’t bet the farm on it.
On-chain and perpetual position data also indicate that smart money is under significant short pressure (some platforms show a notable percentage of large players are short), with some big whales showing clear unrealized losses on their long positions.
Looking at the broader environment, the South Korean stock market triggered multiple circuit breakers today, BTC dropped below 63000, and the fear and greed index has plummeted to 24. In times like this, trying to catch a falling knife on low float + high valuation assets isn’t bravery; it’s likely throwing money away.
Tiny float + outrageous valuation + cautious smart money + market-wide panic = high-risk signal. For those looking to buy the dip, ask yourself: can your position handle another 30% drop? If not, it’s better to wait it out.
Cash in hand is always stronger than anything else; maintain a safe margin to prepare for black swan events. $SPCX $DEXE $ARX #SpaceX将纳入彭博全球大盘指数