Key Facts

• Bitcoin has dropped over 8% from its June high near $67,255, currently trading at $62,510, and is getting close to retesting the $60,000 support level.
• SpaceX's post-IPO rout has erased over $600 billion in market value, with its shares dropping roughly 27% from their peak of $211.39 on June 16 to around $150.
• The Elon Musk-led company priced its record IPO at $135 per share earlier in June, raising $75 billion at an implied valuation of about $1.77 trillion, based on 13.08 billion shares outstanding.
• Analyst Nehal noted that there's a high probability of Bitcoin falling under $60,000 if it breaks below $62,200, citing a potential head-and-shoulders pattern on Bitcoin's four-hour chart.
• A decisive four-hour close below the $61,000–$62,000 range would confirm the bearish setup and increase the risk of a deeper decline, with a measured downside target near $55,000–$56,000.