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Key Takeaways
What fueled SPX’s sharp 12% rally?
Whales resumed accumulation in both Spot and Futures markets, signaling renewed confidence.
What are the next key price targets for SPX?
Liquidity clusters at $1.8 and $2 act as price magnets, with these levels potentially setting up a deeper bullish cycle.
SPX6900 [SPX] is back in the spotlight after a sharp 12% rally in a single day. The move has sparked fresh debate on whether whales are quietly fueling the surge, or if retail demand will need to step in to carry it further.
Whale accumulation back on the radar
In the spot market, whale addresses have started accumulating more long positions again at the current $1 price level. This is significant because spot accumulation has been scarce since SPX was at its recent lows.
The sudden shift suggests that long -term large holders are regaining confidence and see value at current levels.
Source: CryptoQuant
On the Futures side, though, whale participation has been more consistent, according to the recent CryptoQuant data.
The steady accumulation of contracts by whales in the Futures market affirms that SPX’s rally is not just a short-lived bounce.
Futures players typically move with stronger directional bets, and their activity leans bullish for SPX in the near term.
Source: CryptoQuant
Liquidity levels point higher
Liquidity data adds more bullish bias to the aforementioned. CoinGlass data showed liquidity clusters of resting orders sat above the press time cost at $1.8 and $2, both of which could act as magnets for price.
If momentum continues, traders and investors are likely to push the altcoin prices toward these levels in search of liquidity, making them the next short-term targets in line.
Source: CoinGlass
What’s next for SPX?
For now, the setup looks optimism with SPX bulls in control. Whale accumulation on both Spot and Futures markets, combined with liquidity levels just overhead, tilts the bias upward.
Still, the rally will need support from broader participation. If retail traders hesitate, the momentum could fade just as quickly as it appeared.
The coming days will be critical. If SPX pushes through the $1.8–$2 zone with strong volume, it could set the stage for a deeper bullish cycle. If not, another round of consolidation may be in store.
