SpaceX Market Cap Slump Outpaces Bitcoin Moves as AI Trade Wobbles

SpaceX has lost more than $600 billion in market value over just three trading sessions, a decline of roughly 23% that followed the company’s announcement of its first bond issuance. The move is aimed at funding artificial intelligence expansion linked to its acquisition of xAI, but it triggered heavy selling pressure in the newly listed stock.

On Monday alone, SpaceX shares dropped 16% to $154.60, marking their lowest level since the company’s market debut on June 12. The selloff continued into the next session, extending losses as traders reacted to the planned debt offering of at least $20 billion.

The scale of the decline is notable, with the erased value approaching nearly half of Bitcoin’s total market capitalization, which stands around $1.3 trillion.

Bitcoin Holds Steady Despite Risk Asset Volatility

Unlike SpaceX, Bitcoin remained relatively stable during the same period, slipping less than 1% and trading near $62,800. The cryptocurrency has stayed within a narrow range even as broader markets faced turbulence.

Analysts point to structural differences between the two assets, noting that SpaceX has a much smaller tradable float, making it more sensitive to large swings in sentiment. Bitcoin, by contrast, benefits from deeper liquidity and a more distributed global market base.

AI Sector Concerns and Macro Conditions Shape Market Mood

The broader selloff was not limited to SpaceX. Technology stocks also weakened, with major indexes such as the Nasdaq falling as investors reassessed heavy spending on artificial intelligence infrastructure. Companies like Alphabet and Amazon also came under pressure.

At the same time, easing oil prices and ongoing US–Iran diplomatic progress helped stabilize inflation expectations, providing a partial offset for risk assets.

Despite volatility in equities, Bitcoin has so far avoided a deeper correction, continuing to trade within its established monthly range while traditional tech-heavy assets experience sharper swings.