Bitcoin Slips as SpaceX Rout Tests $60K Support

Bitcoin has fallen more than 8% from its June high near $67,255, bringing the $60,000 support level back into focus as a SpaceX-led market rout chips away at risk appetite. SpaceX’s record IPO was priced at $135 per share, raising $75 billion at an implied $1.77 trillion valuation based on 13.08 billion shares outstanding; the stock opened near $150, climbed to a $211.39 peak on June 16 and later slid about 27% toward $150, erasing much of the debut rally.

The sell-off has broadened into a wider tech decline, with Nasdaq 100 futures down over 3% and major chip names such as Intel, AMD, Micron and SanDisk sliding sharply. Bitcoin often behaves like a liquidity-sensitive risk asset during such market stress, and analysts warn BTC could fall below $60,000 if it breaks beneath $62,200.

As one observer put it: "For now, it’s still a range game. Real breakout signals come above $65.7K or below $59K." Technically, a potential head-and-shoulders formation on the four-hour chart adds pressure.

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