SPCX saw about $75.677 million in new whale positioning within half a day as the token moved into a joint pricing window shaped by its upcoming earnings release and unlock event, according to TradingBeats, formerly Hyperinsight, on Aug. 4.
The monitoring data showed that the seven previously disclosed SPCX million-dollar long holders had not cut their positions in the morning update. Together, they still held about 238,800 long contracts, with the value of those positions rising to $27.7 million as the price moved higher.
Top long holder kept exposure unchanged
The largest long holder, address 0xb37, continued to hold 147,500 SPCX contracts valued at about $17.11 million. The position's average entry price was $114.96, unrealized profit was about $150,000, and the liquidation price stood at $105.45.
TradingBeats said the address neither shifted the position nor added margin, maintaining its earlier judgment that buying after the $105 liquidation line remained effective.
Price rose to $116 after touching $117.47
SPCX was quoted at $116, up about 1.2% from $114.68 earlier in the morning. The token hit an intraday high of $117.47.
With the price recovery extending and none of the seven early long holders exiting, the morning session continued the bullish trade built on the view that pessimistic expectations had already been partly absorbed.
Afternoon flows lifted both long and short leverage
Funding direction shifted later in the day. As added positions pushed leverage higher, the total value of million-dollar long positions increased from $44.115 million to $82.633 million. Million-dollar short positions rose from $47.098 million to $84.257 million. Combined, that amounted to about $75.677 million in new positions within half a day.
Long exposure increased by about $38.518 million, while short exposure increased by about $37.159 million, leaving the incremental flow almost evenly split between both sides.
Open interest climbed to about $229 million
Market-wide open interest rose about 6.5% over the same period, with the value of open contracts reaching about $229 million, indicating that fresh leveraged capital was still entering the market.
At the same time, the latest one-hour window showed six long holders exiting and 34 new shorts entering. With SPCX rebounding on the day and moving closer to its earnings release, marginal capital had started leaning toward short positions or downside protection.