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Scimitar Capital co-founders: They have already shorted SOL/ETH and SOL/BTC, expecting the buying by Forward Industries to slow down.
Odaily News scimitar capital co-founder zlex stated in a post on X that short positions have been established for SOL/ETH and SOL/BTC. On-chain data shows that Forward Industries (FORD) has completed about 90% of order execution, and the market should respond soon. They executed approximately 1.5 billion dollars in trades within 4 days, but their ability to further sell new shares and raise funds through ATM is limited. Considering the speed and scale of execution, as well as the lack of clear follow-up demand, SOL is expected to weaken in the short term.