On the eve of SPCX's inclusion in the Nasdaq: retail investors are leaning bullish and chasing longs, but whales have placed a $4.4 million sell order above.

ME News message, on July 7 (UTC+8), according to Hyperinsight monitoring, SPCX will be officially included in the Nasdaq 100 index before the U.S. stock market opens today, but visible positions on Hyperliquid are not unilaterally chasing longs. As of press time, SPCX is reported at $156.2, with a 24-hour trading volume of approximately $290 million. Large address order structure shows: about $4.96 million in short covering buy orders are placed in the $135 to $155 range, while about $4.45 million in sell orders are pressing above from $156.3 to $175.0. SPCX orders are as follows:

• Short covering / take-profit buy orders: 116 orders, price range $135.0 - $155.1, approximately $4.95 million;
• Opening sell orders above: 26 orders, price range $156.3 - $175.0, approximately $4.44 million;
• Opening buy orders below: 17 orders, price range $147.5 - $155.9, approximately $1.80 million. Among the three types of orders, short covering buy orders lead in both number and size. Combined with the selling pressure above, the intention of large funds leans towards "selling on rallies and buying back on dips". In terms of positions, there is a long-short stratification, with the degree of bearishness increasing with position size, while retail investors tend to be bullish:
• Visible positions above $100k: 183 positions, totaling approximately $141.0 million, short/long ratio about 1.15;
• Large positions above $1 million: 17 positions, totaling approximately $55.76 million, short/long ratio about 2.06;
• Medium and small positions of $100k to $1 million: long/short ratio about 1.25, the only layer with net bullishness. On the whale cost line, the weighted average cost for large longs is about $164.59, and for shorts about $169.68, both above the current price. Shorts are overall in floating profit, while longs are overall trapped. On the liquidation line, the nearest short liquidations are concentrated around $195.7 to $198.0, totaling approximately $10.44 million; long-side liquidations are mainly around $97 and $110, both far from the current price. (Source: BlockBeats)