Bitcoin Holds Above $64K as Markets Brace for $100B SpaceX Liquidity Event

South Korea’s Kospi index dropped 4.4% as momentum in the AI-driven market rally weakened, while around $101 billion worth of SpaceX shares are set to become available for trading on Thursday.

Bitcoin remained above $64,600 on Thursday, posting a slight daily gain and a 0.5% increase over the past week, while other major cryptocurrencies showed limited movement.

Market focus has also shifted toward Elon Musk’s SpaceX, where approximately $101 billion in shares will become tradable after the company’s first lockup period expires. SpaceX holds around 18,712 BTC, valued at roughly $1.1 billion as of the end of June.

Ether climbed more than 1% to $1,904 but is still down 0.7% over the last seven days. XRP underperformed major cryptocurrencies, dropping nearly 3% to $1.04 and extending its weekly decline to 3%. BNB slipped more than 1% to $595 but remains the strongest performer among large-cap tokens over the past week, gaining 3.5%.

Solana declined almost 1% to around $74, while Dogecoin also fell about 1% to $0.07. Tron remained unchanged near $0.33. Hyperliquid’s HYPE traded mostly flat around $56 but has gained more than 4% this week, making it the best weekly performer among major tokens.

FxPro analyst Alex Kuptsikevich said bitcoin has strengthened since Monday after buyers stepped in near the $62,500 level and pushed the price back above its 50-day moving average. He noted that investor optimism is currently focused more heavily on bitcoin than the broader crypto market, a pattern often seen during the early stages of a longer-term market transition.

The broader equity environment provided fewer positive signals. The MSCI All Country World Index ended a five-session winning streak, falling 0.2% as semiconductor stocks declined across Asian and U.S. markets. South Korea’s Kospi, considered a key indicator of AI-sector momentum, fell 4.4%, led lower by losses in SK Hynix and Samsung.

Meanwhile, S&P 500 and European stock futures moved slightly higher.

Gold prices increased 0.4% to their highest level since June as traders reduced expectations for future rate increases. Brent crude remained below $80 a barrel after Iran said it had reached a deal with Oman regarding a shipping route through the Strait of Hormuz.

Investors are also awaiting SoftBank’s earnings report later Thursday. The company has invested $34.6 billion in OpenAI through Vision Fund 2 since September 2024 and owns chipmaker Arm, making its results a key indicator of whether private-sector AI investment remains strong.