المنشور

The unlock may have removed a known supply overhang, but it hasn’t settled the broader valuation debate. With 250M+ shares still short—roughly 16% of the tradable float—and options activity increasing, price action may be reflecting positioning just as much as improving fundamentals. The bullish case is supported by strong revenue growth and narrowing losses, but rising AI capex means cash burn remains an important factor to watch. My view: the rally becomes more sustainable if fundamental improvement continues after the short-covering bid fades. Until then, expect volatility. The key question isn’t whether shorts can push the price higher—it’s whether fundamentals can keep the momentum alive once the forced buying is over. Not financial advice. Just analysis. #SpaceXShortCovering #BTCETHETFInflowsReturn #OKXOrbitTopics