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A hundred thousand shorts got liquidated— $SPCX is surging like crazy! The big players raked in 2 million!
Trends always are born out of despair and die in the middle of the celebration. Family, SPCX is now the most insane moment!
Take a look at this chart—within one hour it shot up and took off, pumping 8% to hit 216! Now look at the liquidation chart—it's filled edge-to-edge with red “corpses.” Shorts are being pinned to the ground by longs and getting rubbed furiously, bloodwashing more than 2 million USD!
Why is it so fierce? On-chain data shows that after the breakout above 210, some big players went in heavily with 10x leverage. Now, in a single move, they’ve made 2.1 million USD! This is a typical “short squeeze”—forced buybacks by shorts cause the price to rise even more.
Bai Yue’s trading thinking:
The sentiment is too hot right now—don’t try to guess the top! Continue looking for longs with support around 215-214, with a target around 230.
I think this rally, propped up by whale leverage, looks exciting, but it’s actually viciously risky. The current upswing is completely pushed up by shorts being forced out, and the sentiment has already reached the point of boiling over.
#我的Gate交易时刻 #比特币反弹