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The 9.1 share unlock turned out to be far less bearish than many expected. Many traders anticipated heavy selling pressure, yet $SPCX never experienced the major collapse that some had feared. The intraday low was around 115.3, remarkably close to the 115 support zone that many were watching. So why didn't the stock fall harder? One possibility is that many eligible shareholders simply chose not to sell. A lockup expiration only allows insiders to sell—it does not mean they are required to. If employees, early investors, or long-term holders remain confident in the company's outlook, they may decide to keep their positions. It's also worth remembering that the earnings reaction and the lockup are two separate events. The post-earnings volatility was driven largely by the market's interpretation of the results and management commentary, while the lockup expiration appears to have had a much smaller immediate impact than expected. Key Takeaways ✅ Lockup expirations do not automatically trigger sharp declines. ✅ Market demand can absorb newly tradable shares if buyers remain active. ✅ Investor sentiment and company fundamentals often matter more than the unlock event itself. As for the strong defense around key price levels, it's difficult to conclude that there was any intervention. Strong support can emerge naturally from institutional buying, algorithmic trading, short covering, or investors viewing the pullback as a buying opportunity. Without evidence, it's not possible to attribute the price action to market intervention. The lesson is simple: a token or stock unlock is a risk factor—not a guarantee of a sell-off. The market ultimately decides whether new supply overwhelms demand.