SPCX giant whale cuts losses by $700,000—don’t catch falling knives
SPCX really went in hard this round. The giant whale that kept chasing yesterday was adding positions, but this morning it chopped $700,000 and exited. The current price is 112, down nearly 20% over the past 24 hours. A few days ago it rallied from 108 to 130, and everyone was shouting “bull market continues,” but it turned out they were just carrying the whale on a chair. Now the rebound is all being weighed down by unlocked-sale pressure; trapped holders are lining up to run—so don’t catch a falling knife.
$BTC is no better. Saylor has been trimming three times a week, selling a total of nearly 3,000 coins. He says it’s a long bull run, but his hands keep doing the opposite. Even though there are still 840,000 coins in the base holding, even the most steadfast longs have started selling—so what reason do you have to chase the price up? With 64,000 churning around all day, when U.S. stocks went crazy higher it didn’t move; the direction was chosen immediately.
Altcoins are basically cycling the SPCX script right now: the more wildly it pumps, the more savagely it kills. At positions like $SPCX , it’s best to watch from the sidelines.
SPCX really went in hard this round. The giant whale that kept chasing yesterday was adding positions, but this morning it chopped $700,000 and exited. The current price is 112, down nearly 20% over the past 24 hours. A few days ago it rallied from 108 to 130, and everyone was shouting “bull market continues,” but it turned out they were just carrying the whale on a chair. Now the rebound is all being weighed down by unlocked-sale pressure; trapped holders are lining up to run—so don’t catch a falling knife.
$BTC is no better. Saylor has been trimming three times a week, selling a total of nearly 3,000 coins. He says it’s a long bull run, but his hands keep doing the opposite. Even though there are still 840,000 coins in the base holding, even the most steadfast longs have started selling—so what reason do you have to chase the price up? With 64,000 churning around all day, when U.S. stocks went crazy higher it didn’t move; the direction was chosen immediately.
Altcoins are basically cycling the SPCX script right now: the more wildly it pumps, the more savagely it kills. At positions like $SPCX , it’s best to watch from the sidelines.