Bitcoin steadied above $64,000 on Thursday, holding its ground as traders turned their attention to a massive unlock of SpaceX stock worth roughly $100–101 billion that becomes tradable today. The move comes against a backdrop of broader market jitters — Korea's Kospi index slid 4.4% amid a wobble in AI-related trades.
SpaceX stock unlock hits the market
Shares of Elon Musk's private rocket company are set to hit secondary markets Thursday, with the total value of the unlock estimated between $100 billion and $101 billion. That's a lot of supply hitting a market that doesn't usually see SpaceX equity trade in such volume. Traders are watching closely to see whether the unlock siphons liquidity from other risk assets — including crypto — or if it's mostly absorbed by institutional buyers who've been waiting for a chance to get in.
Kospi slides on AI trade wobble
South Korea's benchmark index fell 4.4% on Thursday, its biggest drop in months. The sell-off was tied to a sudden pullback in AI-related stocks, a sector that's been red-hot this year. The Kospi is heavily weighted toward semiconductor and tech names, so any turbulence in AI sentiment hits hard. The timing isn't great for crypto — a risk-off mood in Asia often spills over into digital assets during the trading day.
Bitcoin steady but cautious
Despite the crosscurrents, bitcoin held above $64,000 through the Asian session. That's a level traders have been defending for the past week. But volume is thin, and the range is tight. The SpaceX unlock and the Kospi drop are two distinct events, but they both feed the same question: are risk assets about to take a hit? For now, bitcoin is waiting for a catalyst — and none of today's headlines have provided one yet.
