Millionaire shorts SpaceX as price crashes

The article says traders are increasingly shorting the SpaceX-linked SPCX contract after its sharp post-debut decline. The contract, which tracks one share of SpaceX stock on Hyperliquid, fell more than 30% from an all-time high of $228.74 on June 15 to $151.92 at the time of writing. The move comes even as Bitcoin hovered around $60,300, with a whale reportedly opening a $60 million 40x short on Bitcoin and a $14 million 10x short on SPCX. The piece frames the trade as a bearish wager on both SpaceX and Bitcoin sentiment, especially amid debate over whether IPO excitement is pulling capital away from crypto. Overall, it suggests weakening momentum in SpaceX-linked speculative trading and a more cautious near-term outlook for BTC-related risk assets.