The 1.34x advantage of the short position is shrinking, and the 169 moving average for building positions has become a pressure test level. The 208 liquidation line looks far away, but if the bulls can push up to 164 first and trigger a surge, this game will get interesting.

CoinWorld Network News: In the past 12 hours, SPCX has continued to fall by 5%. Its current price is $155. On Hyperliquid, SPCX’s 24-hour trading volume is about $932 million. The short position size has decreased to $42.24 million, while the long position size has increased to $31.57 million—shorts are about 1.34 times longs. The moving average line of the current large short positions is at $169.2, and the most recent liquidation line is at $164. The largest short “whale” holds a 3x short position, with a current position value of about $18.54 million, an average entry price of about $167.41, a liquidation price of about $208.88, and an unrealized profit of about $1.47 million.