19.09.2025 09:59
SPX6900 is experiencing a significant resurgence, reclaiming bullish control following an impressive 12% surge within a 24-hour period. This dramatic turnaround has ignited discussions regarding the driving forces behind the ascent and the potential for sustained upward momentum.
A key catalyst for SPX's robust 12% rally appears to be the resumption of accumulation activities by significant market participants, often referred to as "whales." This renewed confidence, observed across both spot and futures markets, suggests a belief in the underlying value of SPX at current price points.
Analyzing the spot market reveals a notable trend: whale addresses have recommenced the accumulation of long positions around the $1 price mark. This development is particularly noteworthy given the scarcity of such spot accumulation since SPX's recent troughs. The discernible shift implies that substantial long-term holders are regaining their conviction and perceive intrinsic value at these prevailing levels.
Concurrently, data from futures markets indicates a more consistent pattern of whale engagement. The persistent acquisition of contracts by these large players in the futures arena serves as an affirmation that SPX's current rally is not merely a fleeting rebound but indicative of a more substantive bullish sentiment. Futures market participants are generally known for placing more decisive directional bets, and their recent activity strongly suggests a positive near-term outlook for SPX.
Further bolstering this optimistic projection, liquidity data points towards an upward trajectory. Analysis of resting orders reveals clusters of liquidity positioned above the current trading price at both $1.8 and $2. These levels are likely to exert a magnetic pull on price action, drawing it towards them should momentum persist. Consequently, traders and investors are expected to drive the altcoin's price towards these liquidity zones, marking them as the immediate short-term price targets.
The current market structure presents an optimistic outlook for SPX bulls.
