SpaceX Skyrockets Past Bitcoin in a Wild Wall Street Tale

by

expectations are now stacked higher than a steamboat chimney. Some analysts warn that if SpaceX so much as stumbles on a pebble, the whole market-and the AI darlings riding shotgun-might take a tumble with it.

“With expectations already sky high, there is little room for error,” Lukman Otunuga of FXTM told CoinDesk. Translation: if SpaceX sneezes, the stock market catches pneumonia.

The numbers don’t exactly soothe the nerves. SpaceX posted a $4.94 billion net loss in 2025 on $18.67 billion in revenue. At a $2.5 trillion valuation, it’s trading at more than 130 times sales-a level some folks politely call “meme‑stock territory,” and less polite folks call “are you out of your mind?”

Still, SpaceX announced Tuesday it’s taking over Cursor in a deal valuing the AI coding startup at $60 billion. Cursor investors will get SpaceX stock based on Cursor’s implied equity value, which is a fancy way of saying everyone’s swapping magic beans and hoping they sprout.

All this excitement lands smack in the middle of a busy macro week. The Bank of Japan hiked rates to 1%-the highest since 1995-while the Federal Reserve is expected to hold steady in Kevin Warsh’s first meeting as chair. Gold is lounging above $4,300, oil is calming down, and inflation fears are taking a nap.

Risk appetite is back, which gives bitcoin a little pep in its step, but the hottest trade of all is an expensive, unprofitable stock. If SpaceX trips, everything orbiting around it might come crashing down like a misfired firework.

  1. 1Bitcoin’s June downturn leaves $8.6 billion in options out of the money
    1 hour ago
  2. 2Heir to 135-year Gulf dynasty is moving a $6 trillion trade market onto blockchain rails
    1 hour ago
  3. 3Three Fed signals that could make bitcoin pop
    1 hour ago
  4. 4UNI token surges while rest of crypto market looks to Fed’s Warsh for guidance
    2 hours ago
  5. 5Forget retail traders: The real multi-trillion-dollar crypto future is building infrastructure for machines
    2 hours ago
  6. 6BitGo offers Europe’s crypto firms a MiCA-compliance lifeline as license deadline looms
    6 hours ago
  7. 7Forget the price charts. Here’s how bitcoin and S&P 500 look like when adjusted for the money printer
    6 hours ago
  8. 8Crypto PAC’s $12 million Senate candidate, Barry Moore, wins Alabama GOP primary
    7 hours ago
  9. 9Live markets: Markets turn their focus to the Fed as oil returns to pre-war levels
    8 hours ago
  10. 10XRP gives back breakout gains, slipping below $1.23 on heavy selling
    8 hours ago

CEX Volumes Drop to Lowest Since September 2024 as RWA Perps Hit Record High

CEX Volumes Drop to Lowest Since September 2024 as RWA Perps Hit Record High

In May, combined exchange volumes dipped 3.45% to $4.41T-the lowest since September 2024. Meanwhile, RWA perpetual futures volumes rose 10.4%, proving once again that markets behave like mischievous children: tell them to calm down, and they immediately do the opposite.

By CoinDesk Research
Jun 15, 2026

In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024. RWA perpetual futures volumes rose 10.4% against the trend, hitting a new all-time high. Yes, that sentence sounds familiar. No, you’re not imagining things-markets love repeating themselves.

Why it matters:

Because when the big exchanges slow down but RWA perps speed up, it means traders are either seeing something the rest of us don’t… or they’re just bored and pushing buttons. Hard to tell sometimes.

View Full Report

Bitcoin’s June downturn leaves $8.6 billion in options out of the money

UNI token surges while rest of crypto market looks to Fed’s Warsh for guidance

Forget the price charts. Here’s how bitcoin and S&P 500 look like when adjusted for the money printer

Read More

2026-06-17 16:12