SPCX trading on Hyperliquid swung sharply on June 17, pressuring the platform’s largest disclosed short position while drawing fresh bullish bets from two whale addresses. On-chain analyst reports identified as Ember and Yu Jin said an address shorted 111,000 SPCX shares at $173, a position valued at $23.75 million that showed a reported $4.46 million unrealized loss when SPCX reached $214; the liquidation price was cited as $249. Separately, Hyperinsight said two whale addresses opened SPCX long positions around $204 at midday on June 17 with a combined size of $11.7 million. At press time, SPCX traded at $204.3 on Hyperliquid, down 3.7% over 12 hours, with the nearest liquidation price for those new longs at $157. Reports also put SPCX’s implied market value between about $2.69 trillion and $2.8 trillion during the move.