Crypto Market Watches SpaceX Windfall as Bitcoin Remains Firm Above $64,000

South Korea’s Kospi index declined 4.4% as the AI investment boom showed signs of slowing, while about $101 billion worth of SpaceX shares are set to enter the tradable market on Thursday after the company’s first lockup expiration.

Bitcoin remained stable above $64,600, posting a small daily increase and holding a 0.5% gain over the last seven days. Meanwhile, leading cryptocurrencies largely moved sideways as investors searched for fresh catalysts.

Traders are paying close attention to Elon Musk’s SpaceX, where the first lockup release will allow approximately $101 billion in shares to be traded. The company also owns 18,712 BTC, valued at roughly $1.1 billion at the end of June.

Ethereum climbed more than 1% to around $1,904 but continues to show a 0.7% decline over the past week. XRP was the biggest laggard among major tokens, dropping nearly 3% to $1.04 and extending its seven-day loss to 3%. BNB slipped more than 1% to $595, although it remains the top weekly performer among large-cap cryptocurrencies with a 3.5% gain.

Solana eased nearly 1% to about $74, while Dogecoin also fell around 1% to trade near $0.07. Tron remained unchanged at approximately $0.33. Hyperliquid’s HYPE traded flat near $56 but has climbed more than 4% this week, giving it the strongest weekly return among major crypto assets.

FxPro analyst Alex Kuptsikevich said bitcoin’s recent recovery began after buyers defended the $62,500 support area on Monday, pushing prices back above the 50-day moving average. He noted that current market confidence is concentrated mainly in bitcoin rather than the broader crypto market, a trend often observed during the early stages of a long-term market transition.

The global stock market environment became less supportive as semiconductor shares weakened. The MSCI All Country World Index ended a five-day rally with a 0.2% decline as chip stocks fell across Asian and international markets. South Korea’s Kospi, considered a key indicator of AI-sector sentiment, dropped 4.4%, dragged down by losses in SK Hynix and Samsung.

U.S. and European equity futures edged slightly higher.

Gold advanced 0.4% to its highest level since June as investors reduced expectations of additional interest-rate increases. Brent crude remained below $80 per barrel after Iran said it had reached an agreement with Oman over a shipping route through the Strait of Hormuz.

Investors are also awaiting SoftBank’s earnings announcement later Thursday. The company has committed $34.6 billion to OpenAI through Vision Fund 2 since September 2024 and owns semiconductor company Arm, making the report a key indicator of whether private AI investment continues to maintain strength.