SpaceX evaporates $600 billion in a day, Bitcoin dips below $62K
Elon Musk's space exploration company SpaceX, which just completed the largest IPO in human history, saw its stock plummet 16.43% without warning after announcing its first investment-grade bond issuance, wiping out about $600 billion in market cap in a single day.
What’s the purpose of this bond? SpaceX plans to raise up to $25 billion to build the data centers, computing hardware, and power infrastructure needed for AI.
The Nasdaq index took a hit overnight, plunging 1.32%, with Alphabet, Google's parent company, experiencing its largest single-day drop in over a year, crashing nearly 5%. Amazon also fell close to 5%, and Meta wasn’t spared either.
After the Asian markets opened, they echoed the downturn, with the South Korean Kospi index dropping nearly 10% at one point and the Japanese Nikkei 225 index also down by 3.55%.
On June 23, Bitcoin's price hit a low of $61,860, and mainstream crypto assets like Ethereum and Solana also took a dive. In the past 24 hours, over 130,000 traders were liquidated, with total liquidations reaching $659 million, predominantly from long positions contributing over $600 million. The entire cryptocurrency market saw more than $100 billion in market cap evaporate in just a few hours.
BlackRock's head of digital assets, Robbie Mitchnick, pointed out that the heat in the AI sector is acting like a massive vacuum pump, sucking liquidity from the market. "A lot of capital is fleeing non-AI core assets to reposition in AI," which is the fundamental reason behind Bitcoin's recent weakness. This capital siphoning effect has not only impacted cryptocurrencies but has also affected traditional safe-haven assets like gold.
#纳斯达克跌2.2% #SPCX盘前交易跌17.44%至$148.34 $SPCXB $BTC
Elon Musk's space exploration company SpaceX, which just completed the largest IPO in human history, saw its stock plummet 16.43% without warning after announcing its first investment-grade bond issuance, wiping out about $600 billion in market cap in a single day.
What’s the purpose of this bond? SpaceX plans to raise up to $25 billion to build the data centers, computing hardware, and power infrastructure needed for AI.
The Nasdaq index took a hit overnight, plunging 1.32%, with Alphabet, Google's parent company, experiencing its largest single-day drop in over a year, crashing nearly 5%. Amazon also fell close to 5%, and Meta wasn’t spared either.
After the Asian markets opened, they echoed the downturn, with the South Korean Kospi index dropping nearly 10% at one point and the Japanese Nikkei 225 index also down by 3.55%.
On June 23, Bitcoin's price hit a low of $61,860, and mainstream crypto assets like Ethereum and Solana also took a dive. In the past 24 hours, over 130,000 traders were liquidated, with total liquidations reaching $659 million, predominantly from long positions contributing over $600 million. The entire cryptocurrency market saw more than $100 billion in market cap evaporate in just a few hours.
BlackRock's head of digital assets, Robbie Mitchnick, pointed out that the heat in the AI sector is acting like a massive vacuum pump, sucking liquidity from the market. "A lot of capital is fleeing non-AI core assets to reposition in AI," which is the fundamental reason behind Bitcoin's recent weakness. This capital siphoning effect has not only impacted cryptocurrencies but has also affected traditional safe-haven assets like gold.
#纳斯达克跌2.2% #SPCX盘前交易跌17.44%至$148.34 $SPCXB $BTC