Is SpaceX's Inclusion in the Nasdaq a Bullish Sign of an Approaching Short Squeeze? Only 1 of the Recent 8 Whales Who Accumulated Positions in the Stock Remains Bullish
BlockBeats News, July 1st, according to Hyperinsight Monitoring, SpaceX is only 6 days away from its official inclusion in the Nasdaq 100 Index on July 7th. As the favorable event approaches, the open interest for this asset on the Hyperliquid platform has reached $186 million, with a 24-hour trading volume increasing to $260 million. SPCX is currently trading at $173, up 6% in the past 24 hours, showing continued strength in pre-market trading.
Despite the recent accumulation by large funds in preparation for this event, there has not been a significant increase in long positions. Among the 8 whales who opened new positions and have held them until now, only 1 has a long position. Interestingly, this address is also the only whale currently in profit, holding a long position of 20,000 SPCX tokens with 8x leverage, worth approximately $3.46 million at an average price of $160.5.
With the rise in the token price, this address is now sitting on an unrealized gain of $255,000 (+38.9%). Their average holding period is only about 12 hours, but they have maintained this long position for nearly 2 days this time, often opening positions just before earnings reports and related positive news. Their recent main positions cover DRAM, NVDA, and MRVL.
Looking at the overall on-chain holdings, the average long position entry price for large holders is $183.77, with many still deep underwater in unrealized losses. On the other hand, the average short position entry price is $171, and with the current token price surpassing the short entry line, it implies that previous short sellers who may have profited are now collectively under pressure, with most now facing losses.
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