Long on Starship launch, long on SPCX: a trader faces $1.2 million long liquidation expecting successful ignition

BlockBeats news, on July 23, according to Hyperinsight monitoring, Starship Flight 13 automatically aborted launch about 1 second before leaving the launchpad after ignition early on July 17 (some engines failed to start properly). Following the abort news, SPCX on Hyperliquid plunged 9.7% within 5 minutes, dropping to $119.4.

After replacing two engines, SpaceX now plans to attempt launch again on July 24 (tomorrow) between 6:45 and 8:15 AM Beijing time. Ahead of the new launch window, the address starting with 0xf64d opened a long position of 10,900 SPCX contracts in a single transaction this morning, with an average price of $116.1 and a total size of $1.272 million, marking the largest position taken today.

This is the largest single position opened by this address since it began focusing on trading SPCX in June. It reaches 2.7 times the previous maximum holdings, possibly betting on Starship's successful liftoff.

As of press time, SPCX is quoted at $116.5. This address holds all long positions at 8x isolated leverage, with an unrealized profit of about $3,907 (+2.46%); liquidation price is about $104.3, about 10.5% below the current price, if this attempt fails again, compared to the previous flash crash, it may trigger direct liquidation.

Trading records show that since this trader's first transaction of US stock-mapped contracts on June 16, all contract trades from this address have been concentrated in SPCX. Previously, 5 rounds of SPCX trades were completed, all at event nodes, yielding 2 wins and 3 losses, with a total realized loss of about $55,100.

On the news front, Flight 13 plans to deploy 20 Starlink V3 satellites for the first time. Meanwhile, SpaceX will announce its first quarterly results after IPO on August 4 after the market closes, and the first batch of early shares will also enter the staged unlocking window.

Excluding any unexpected news, this round of launch could be the last Starship mission before the earnings report and unlocking window, and is currently one of the clearest event nodes that may independently disrupt SPCX price.

Further reading: After T-0 ignition failure, SpaceX smart money predicts explosion during Starship’s 13th test flight