Bitcoin steadies above $64,000 as traders watch $100 billion SpaceX unlock
Bitcoin prices have stabilized above $64,000 as investors monitor the expiration of a $101 billion stock lockup for SpaceX. Meanwhile, broader market sentiment remains cautious as chipmaker stocks decline and traders evaluate the impact of AI-related investments.
Why it matters
The intersection of crypto market volatility and major corporate financial events like the SpaceX lockup highlights the increasing interconnectedness of digital assets and traditional equity markets.
Attention is also on Elon Musk-owned SpaceX, where roughly $101 billion of stock becomes tradable Thursday as the first lockup expires. The company holds 18,712 BTC, worth about $1.1 billion at the end of June.
Ether rose over 1% to $1,904 but remains down 0.7% over seven days. XRP was the weakest of the group, falling almost 3% to $1.04 and 3% on the week. BNB slipped over 1% to $595 though it still leads the majors over seven days at 3.5%.
Solana fell almost 1% to nearly $74 and dogecoin the same to 7 cents. Tron was flat at 33 cents. Hyperliquid's HYPE was little changed at $56 and is up over 4% on the week, the best weekly performance among the majors.
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