The price shot up above 150 in one go, with the 24h figure +6.85%, but the most striking part isn’t the rise—it’s that all the money is piling onto the short side.
Open interest expanded by 27.49% in a day, swelling from 360 million to 460 million. The funding rate across eight samples was uniformly negative. Orders are being actively consumed on the sell side, with sell-dominant trades accounting for 62%—the new leverage isn’t being used to lift longs; it’s being used to pave the way for a drop. Shorts would rather pay interest than let up.
The big players are even more direct: by position value, longs are down to only 29%, while 70% of exposure is on the short side. Yet account count shows 57.7% calling for longs. The money is on the short side, even as their mouths sing bullish. Price also cooperates with the weakness—falling back below the 20-minute MA20, and turning bearish on the 4h chart (-0.31%).
So in this move, I’m going short. First, I’m watching the 4-hour platform around 147–148. My stop-loss is at 152.3, just above the 24h high of 152.19. If aggressive buying reclaims 55% or more, the funding rate turns positive, or volume-driven recovery pushes above 150.75 to break through 152.19, then the shorts will get squeezed—I’ll admit the mistake and close immediately.
#spcx $SPCX
Open interest expanded by 27.49% in a day, swelling from 360 million to 460 million. The funding rate across eight samples was uniformly negative. Orders are being actively consumed on the sell side, with sell-dominant trades accounting for 62%—the new leverage isn’t being used to lift longs; it’s being used to pave the way for a drop. Shorts would rather pay interest than let up.
The big players are even more direct: by position value, longs are down to only 29%, while 70% of exposure is on the short side. Yet account count shows 57.7% calling for longs. The money is on the short side, even as their mouths sing bullish. Price also cooperates with the weakness—falling back below the 20-minute MA20, and turning bearish on the 4h chart (-0.31%).
So in this move, I’m going short. First, I’m watching the 4-hour platform around 147–148. My stop-loss is at 152.3, just above the 24h high of 152.19. If aggressive buying reclaims 55% or more, the funding rate turns positive, or volume-driven recovery pushes above 150.75 to break through 152.19, then the shorts will get squeezed—I’ll admit the mistake and close immediately.
#spcx $SPCX
