SKHX Drops 10.6% as Whale Shorts Surge and Large Funds Exit Longs

SKHX price falls 10.6% amid rising short interest from large accounts. Million-dollar funds reduce net longs by $7.5M, while five whales face $176K unrealized losses on new long entries.

Woofun AI data shows SKHX trading at $1061.5, reflecting a 10.6% decline over the past 24 hours. Trading volume reached $639 million while open interest fell by approximately 1.2%, with an hourly funding rate of +0.0106%. The long-to-short ratio for all account holders rose from 2.44:1 to 3.00:1, driven by a decrease of 159 short positions against an increase of only 88 long positions, indicating profit-taking by shorts.

Operations by million-dollar funds exhibit a bearish direction, with net long positions decreasing by $7.519 million and net short positions increasing by $3.453 million in the last 24 hours. The long-to-short amount ratio for these entities dropped from 0.78 to 0.70, leaving whale short positions $37.169 million higher than longs. In the recent hour, 55.4% of new positions from million-dollar addresses were shorts. Five whales collectively added $9.077 million in positions, holding $9.766 million worth at a weighted average entry of $1081.3, resulting in an unrealized loss of $176,000. The largest new address holds 2394.8 SKHX at $1073.5, with a liquidation price of $1016.8, just 4.2% below the current market price.