According to BlockBeats , on August 6th, the first batch of SpaceX shares will enter the lock-up period, with the saleable shares accounting for approximately 12% of the total share capital, equivalent to 1.43 times the publicly traded shares after the IPO.

Before the lock-up period ended, the largest SPCX TWAP order on Hyperliquid was from a profitable short seller who initiated a 12.5-hour "only reducing position" buy order, planning to cover 12,900 short contracts, worth approximately $1.429 million. As of press time, 6,711.4 contracts of this TWAP order had been filled, representing approximately 52% of the target, and the seller had realized a profit of approximately $57,000.

The market was generally cautious. SPCX open interest decreased by approximately $24.23 million from its August 4 high to $189 million, a drop of 11.4%. The cumulative funding rate over the past 24 hours was approximately 18.8 times negative, reaching -0.0254%.

New short positions continue to be added. The address starting with 0x6807 has added approximately 66,000 short contracts in the past 24 hours, currently holding approximately $8.264 million in short positions, with an average entry price of $111.04 and a liquidation price of $118.18; and has placed approximately $5.259 million in buy orders below the current price for "only reducing positions", planning to replenish 90% of the position in tiers ($27-$107).

Meanwhile, the real new long positions are mainly positioned at lower levels. The largest buy orders at lower levels cover three addresses, with a total of 278 buy orders placed in the range of $83.8 to $107.05, with a planned investment of approximately $16.985 million. The weighted average order price is approximately $95.28, which is about 14% lower than the current price.

The top positions are biased towards the short side. Among the top 30 SPCX addresses, the value of short positions exceeds that of long positions by approximately $26.467 million; the top short positions have a total unrealized profit of approximately $11.617 million, while the long positions have an overall unrealized loss of approximately $4.313 million.

Before the lock-up window opens, short sellers are gradually covering their positions via TWAP; long positions willing to take directional risks are mainly waiting for a deeper pullback below the current price. Whether the negative news has been fully priced in still depends on the actual scale of selling after the US stock market opens.

Previous news: A whale that chased the price up on SPCX cut its losses by $700,000 and exited the market; a list of existing whale orders totaling $24 million is available.

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According to BlockBeats, on August 6, Saudi media Alhadath reported that a senior source said Iran and Oman have reached a preliminary agreement on reopening the Sea of Hormuz. The agreement could be announced within days, but still requires approval from Iran's National Security Council. The agreement will last for 60 days and aims to resume navigation.

According to BlockBeats, on August 6th, CryptoQuant analyst Axel Adler Jr. wrote that although Bitcoin has rebounded to $64,600, two flow indicators have not confirmed an influx of new demand. The demand/issuance ratio is -5.43, and the net flow of coin age is -85,500 BTC. Both have rebounded from their July lows but remain negative. A demand/issuance ratio below zero means that the supply of younger coins is shrinking faster than new issuance, a trend that has persisted for about five months. A negative net flow of coin age indicates that 85,500 BTC have moved into the holding category (those held for more than one year) in the past 30 days, indicating a continued contraction in liquidity supply.

Analysts point out that the current rebound is mainly supported by a contraction in liquidity supply (aging coins, long-term holders' reluctance to sell) and accumulation behavior, rather than being driven by new demand. Both indicators returning to above zero are signs of improvement, but a sustained demand/issuance ratio above 1 is needed to confirm a true recovery.

According to BlockBeats, on August 6th, Hong Kong police updated information regarding the "Fun Coffee" cryptocurrency scam, disclosing that as of August 5th, they had received 255 related reports, an increase of 30 from the earlier report, with total losses reaching approximately HK$104 million. Additionally, Macau police arrested two women involved in nine cases totaling approximately MOP 3.6 million. Regarding the fact that a TVB artist had hosted events related to the Fun Coffee scam, Hong Kong police stated that they will contact victims and related individuals during the investigation to identify the mastermind and their roles in the scam.

BlockBeats Note: "Fun Coffee" claims to be a large-scale coffee investment company in Phu Quoc Island, Vietnam, with funds exceeding US$1 billion. It plans to enter the Hong Kong market by the end of 2025, using methods such as hosting marathons, banquets, social events, distributing flyers (even under the guise of "anti-fraud"), and inviting celebrities to endorse its products to cultivate a positive image. It has registered a company, opened offices and stores in Hong Kong. In practice, it lures citizens to download an app and "complete tasks" under the guise of investing in "high-tech coffee equipment, gene optimization technology, and agricultural equipment," requiring them to deposit cryptocurrency such as Tether (USDT). The platform promises annualized returns as high as 197%–278% (the highest claim is 222% or even higher), with higher returns for larger amounts and longer investment periods, and incentivizes referrals through commission-based commissions.

In July 2026, the Hong Kong Securities and Futures Commission listed it as a suspicious investment product. Later that month, the app suddenly shut down, withdrawals became impossible, customer service became unreachable, and the offices and stores were deserted, leading to the collapse of the scam.