Bitcoin price stability holds above $64,600 despite SpaceX’s $101B unlock

1 hour ago 20

Bitcoin price stability once again became the market’s central talking point this week, even as a much bigger financial event unfolded just outside the crypto world. The token held firm above $64,600, brushing off a mid-week dip that buyers quickly bought back, while attention across trading desks drifted toward Elon Musk’s SpaceX and the $101 billion stock lockup that expired on Thursday. According to CoinDesk, the optimism around bitcoin appeared narrowly focused on the asset itself rather than spreading across the wider digital-asset market.

Key takeaways

Bitcoin held above $64,600, posting a 0.5% weekly gain despite an early-week dip.
SpaceX’s $101 billion stock lockup expired Thursday, freeing a large batch of shares for trading.
SpaceX holds 18,712 BTC, worth roughly $1.1 billion at the end of June, down from $1.64 billion at the close of 2025.
Ether, XRP and BNB moved in different directions, while Hyperliquid’s HYPE token posted the strongest weekly gain among major tokens, up more than 4%.
Global risk appetite softened as a key Asian equity index fell sharply and gold climbed on expectations of fewer rate hikes.

Bitcoin Holds Steady While Majors Diverge

Bitcoin’s ability to defend its recent range is the clearest sign of price stability heading into a volatile stretch for equities and AI-linked stocks. The token traded above $64,600 on Thursday, up slightly on the day and 0.5% over the week, according to CoinDesk. That resilience stood out because the rest of the crypto market failed to move in the same direction.

A Narrow Range Signals Selective Confidence

Buyers stepped in earlier in the week to defend a dip, a pattern that traders often read as a sign of underlying demand rather than pure speculation. Bitcoin’s modest weekly gain, small as it looks on paper, matters because it came while broader risk sentiment was turning cautious elsewhere.

Ether, XRP and BNB Move in Different Directions

Ether rose over 1% to $1,904 but remained down 0.7% for the week, showing that short-term bounces haven’t fully offset earlier losses. XRP was the weakest performer among the majors, slipping almost 3% to $1.04 and finishing the week down roughly 3%. BNB slipped over 1% on the day to $595, yet it still led the large-cap group over seven days with a 3.5% gain. Solana and Dogecoin each dropped close to 1%, landing near $74 and 7 cents respectively, while Tron stayed flat at 33 cents.

SpaceX’s $101 Billion Unlock Puts Bitcoin Holdings Under a Spotlight

The expiration of SpaceX’s lockup matters for crypto watchers because the company is also one of the more visible corporate holders of bitcoin. Roughly $101 billion worth of SpaceX stock became tradable on Thursday as the company’s first post-IPO lockup period ended, according to CoinDesk. The move came less than two months after SpaceX’s record-setting $86 billion IPO, and it marked the first real test of how the market would absorb a wave of newly tradable shares.

Why the Lockup Expiration Matters for Liquidity

Lockup expirations typically free up shares held by employees and early backers, increasing the public float and, in some cases, adding selling pressure. For SpaceX, the scale of the unlock, roughly $101 billion, made it one of the largest liquidity events tied to a recent high-profile IPO.

The timing lined up with SpaceX’s first earnings report as a public company. The company posted second-quarter revenue of $7.8 billion, beating Wall Street’s forecast of $6.9 billion, while narrowing its net loss to $541 million from $1.0 billion a year earlier. Adjusted EBITDA nearly tripled to $3.5 billion, driven by growth across its launch, Starlink and AI businesses. Capital expenditures came in well above expectations too, at $18.4 billion versus the roughly $13 billion analysts had projected, reflecting heavy continued investment in AI infrastructure. SpaceX’s stock, trading under the ticker SPCX, closed nearly 10% higher on the day of the earnings report before slipping 6% after-hours to $118, even as the Nasdaq 100 gained 3.3%.

SpaceX’s Bitcoin Stash Shrinks in Dollar Terms

SpaceX still holds 18,712 BTC, unchanged in token count, but the dollar value of that stash tells a different story. The holdings were worth about $1.1 billion at the end of June, down sharply from $1.64 billion at the close of 2025. That decline lines up with bitcoin’s roughly 33% price slump over the same stretch, a reminder that even large corporate treasuries carrying bitcoin remain exposed to the asset’s swings, regardless of how steady the token looks on any single trading day.

Why this matters: SpaceX is one of the more closely watched corporate holders of bitcoin, and its treasury losses illustrate how price stability at the $64,600 level today doesn’t erase the impact of sharper drawdowns earlier in the year. For markets, it’s a live case study in how a major liquidity event and a bitcoin holding on a public company’s balance sheet can intersect without necessarily moving one another in lockstep.

Broader Market Sentiment and Standout Tokens

Global risk appetite cooled just as bitcoin held its ground, underscoring how crypto and traditional markets aren’t always moving to the same rhythm right now. South Korea’s Kospi index fell sharply as the broader AI trade wobbled, and chipmakers slid alongside it. Gold, meanwhile, climbed on expectations that central banks may deliver fewer rate hikes than previously priced in. Traders were also watching for SoftBank’s upcoming results, seen as a useful gauge of how private AI investment is holding up.

Hyperliquid’s HYPE Leads the Pack

Amid the mixed picture across major tokens, Hyperliquid’s HYPE token stood out. It traded little changed on the day at $56 but finished the week up more than 4%, the strongest seven-day performance among large tokens tracked. That kind of outperformance against a backdrop of soft risk sentiment suggests demand for HYPE has, for now, decoupled from the broader market mood affecting bitcoin, ether and the rest of the majors.

FAQ

How has Bitcoin performed recently amid the SpaceX stock unlock?

Bitcoin has held steady above $64,600 with a 0.5% gain over the week, showing resilience despite major liquidity events.

What is the significance of the SpaceX stock lockup expiration?

SpaceX’s $101 billion stock lockup expired, making a large amount of shares tradable which could influence market liquidity.

How have other major cryptocurrencies performed recently?

Ether rose slightly over 1% but is down 0.7% weekly; XRP declined nearly 3%; BNB fell over 1% but leads with a 3.5% weekly gain; Hyperliquid’s HYPE gained over 4% weekly.