SpaceX $600B Plunge Wipes Out Nearly Half of Bitcoin Market Cap in 3 Days

The dramatic $600 billion drop in SpaceX’s valuation has triggered a ripple effect across the crypto market, erasing nearly half of Bitcoin’s (BTC) market capitalization within just three days. This unprecedented event highlights the growing correlation between traditional tech stocks and digital assets, as investor panic over SpaceX’s financial health spilled over into Bitcoin. The sell-off saw BTC’s market cap shrink from $1.2 trillion to approximately $650 billion, marking one of the steepest declines in recent crypto history. Analysts warn that further volatility may ensue if SpaceX’s valuation continues to slide, impacting broader market sentiment and altcoin performance. Investors are now closely monitoring key support levels for BTC, with many eyeing the $30,000 mark as a critical threshold.