SpaceX ($SPCX ) Is Sliding , And This Whale Is Feeling the Pain .
The recent selloff in SPCX is putting serious pressure on leveraged longs.
One of the larger bulls, wallet 0x519c, is now sitting on a substantial unrealized loss as the token continues to move lower.
According to current position data, the whale is down nearly $1.19 million on the trade, making it one of the more heavily underwater SPCX positions being tracked right now.
Position Snapshot: Asset: $SPCX, Current Unrealized Loss: ~$1.19M
, Wallet: 0x519c721de735f7c9e6146d167852e60d60496a47
What's interesting is that despite the sharp drawdown, the position remains open, suggesting the trader is still betting on a rebound rather than cutting losses.
With volatility increasing and
#SPCX continuing to trend lower, all eyes will be on whether this whale decides to average down, hold through the drawdown, or finally exit the trade.
For now, the market is winning this battle.
Address: 0x519c721de735f7c9e6146d167852e60d60496a47