Bitcoin Holds $64k as SpaceX’s $101B Unlock Looms

Woofun AI reports that Bitcoin maintained support above $64,600 on Thursday, a position held despite the looming expiration of the first lockup for Elon Musk-owned SpaceX, which makes roughly $101 billion of stock tradable. The company’s treasury includes 18,712 BTC, valued at approximately $1.1 billion at the end of June, adding a layer of complexity to the market’s reaction to the unlock event.

Price action revealed a nuanced recovery, with Bitcoin up 0.5% on the week after buyers intervened on Monday near $62,500 to push the asset back above the 50-day moving average. Alex Kuptsikevich of FxPro noted that momentum has shifted toward Bitcoin rather than the broader market, a pattern typical of early-stage long-term shifts. This optimism is isolated, as the wider crypto sector lacks clear directional cues amid the anticipation of the Thursday unlock.

Woofun AI data shows mixed performance across altcoins and equities, with Ether rising 1% to $1,904 but down 0.7% over seven days, while XRP fell 3% to $1.04. BNB slipped 1% to $595 yet leads majors with a 3.5% weekly gain, whereas Solana dropped 1% to $74, dogecoin fell to 7 cents, and Tron remained flat at 33 cents. Hyperliquid’s HYPE held at $56, up 4% on the week, outperforming peers. In traditional markets, the MSCI All Country World Index fell 0.2%, ending a five-day run, as Korea's Kospi plunged 4.4% with SK Hynix and Samsung leading losses. Conversely, S&P 500 and European futures edged higher, Gold rose 0.4% to its strongest level since June, and Brent crude stayed under $80 after Iran and Oman reached an agreement on the Strait of Hormuz.

SoftBank reports later Thursday, serving as a critical gauge for the private AI sector given its $34.6 billion investment in OpenAI through Vision Fund 2 since September 2024 and its ownership of chip designer Arm. The results will indicate whether the AI trade remains resilient despite recent equity volatility. This marks a pivotal moment for assessing the sustainability of private sector AI valuations.