Spacex

Unitree Robotics opened at 1,100 yuan in Shanghai, valuing the robot maker at about $66 billion and landing well above the level implied by a Hyperliquid perpetual futures market. The debut highlights both the growing influence and clear limitations of crypto-based pre-IPO price discovery.

Natural gas futures finished higher as LNG feedgas climbed and heat supported near-term demand. However, elevated inventories, resilient production and incoming Permian supply continue to limit bullish conviction.

The Dow Jones Industrial Average has notched a fifth straight higher close, showing that industrials remain supported even as technology shares weaken. The next test for risk appetite is whether the Nasdaq can stabilize as SpaceX insider share supply meets fresh anxiety over AI infrastructure spending.

Bitcoin remained firm above $64,600 after buyers defended an early week dip, even as broader crypto markets showed little clear direction. Global risk sentiment softened as AI linked equities retreated and traders watched a major SpaceX stock unlock for clues on liquidity and private market appetite.

SpaceX reported second-quarter revenue of $7.8 billion, exceeding Wall Street expectations and narrowing its net loss from a year earlier. The company also disclosed that the value of its bitcoin holdings fell to $1.10 billion from $1.64 billion at the end of 2025.

Crypto platforms are extending perpetual futures beyond digital assets and into stocks, indexes and commodities, creating round-the-clock exposure to traditional markets. The shift is drawing institutions seeking lower-friction hedging and retail traders looking for access, while questions remain over custody, investor protections and decentralized venues.

Perpetual futures, long treated as a crypto-native trading product, are increasingly being used for exposure to traditional assets such as equities, gold, FX and indices. The shift suggests convergence may be moving in the opposite direction from the usual narrative, with Wall Street assets adapting to infrastructure built in crypto.

Perpetual futures now dominate crypto derivatives activity and often act as a leading venue for Bitcoin price discovery. The same market structure recently showed its power in SpaceX pre IPO trading, where synthetic contracts anticipated early public demand before supply pressures took over.

Bitcoin has pulled back after failing to clear the $66,000 resistance area, with ETF flows turning negative after a seven-day run of positive net inflows. Technical traders are now watching whether BTC can hold above $60,000 and build a possible inverse head and shoulders pattern targeting the $74,000 region.

Robinhood Chain’s real-world assets have climbed to about $70 million as tokenized equities begin trading in larger size. Memecoins and stablecoins still dominate activity, but stock tokens are now becoming a more visible part of the network’s onchain economy.

Nasdaq 100 futures came under pressure as Brent crude moved above $94 and briefly topped $95, forcing traders to reassess the path for interest rates. Super Micro Computer offered support to the AI trade with a $60 billion order book, but Tesla, Alphabet and IBM earnings now face a tougher macro backdrop.

Tech shares found relief as semiconductor stocks extended a rebound and SpaceX snapped a sharp losing streak ahead of its first quarterly report. Still, crude prices above $90 kept inflation and rate concerns firmly in the background for growth stocks.

Nasdaq 100 sentiment remains under pressure as chip and software weakness signals a broader unwind of the AI-linked growth trade. With premium valuations being punished even after solid earnings, traders are watching whether selling extends toward the next major value zone.

Global investors are lining up for major artificial intelligence infrastructure listings, with SK Hynix and CXMT preparing large offerings that underscore the scale of capital chasing semiconductors and memory chips. The rush into AI linked equities is intensifying concerns that crypto assets, including Bitcoin, could remain sidelined as liquidity concentrates in technology infrastructure.

SpaceX moved tiny amounts of bitcoin between wallets tagged to the company for the first time in about six months. The transfers totaled less than $300 and did not send coins to an exchange, leaving its 18,712 BTC position intact.

Major brokerages have begun formal coverage of SpaceX after the 25-day post-IPO quiet period expired, with most firms issuing buy-equivalent ratings. Price targets range from $205 to $800 as analysts focus on launch services, Starlink broadband and government contracts.

SpaceX is set to enter the Nasdaq 100 after the largest IPO ever and a sharp debut rally. Recent high-profile additions such as Palantir and Strategy suggest index inclusion can coincide with volatility rather than a clean extension higher.

SpaceX has lost more than $600 billion in market value over three sessions after unveiling its first bond sale tied to AI expansion and xAI. Bitcoin, meanwhile, held close to $63,600 with only a modest decline, highlighting a split between AI-driven risk sentiment and crypto resilience.

SpaceX has soared to a roughly $2.5 trillion valuation after its June 12 debut, putting it among the world’s largest companies. The rally is raising questions about whether risk capital is shifting away from crypto and into AI-linked equities.

Ark Invest accumulated nearly 3.3 million SpaceX shares worth more than $500 million on the company’s record-setting IPO day. The move came alongside more than $325 million in stock sales across at least 13 companies.