# SpaceX暴跌16%市值蒸发4000亿

#SpaceX暴跌16%市值蒸发4000亿 SpaceX loses $410 billion in two days—how much longer can the global top ten hold on? SpaceX has been listed for only a week, and its stock has already been on a full rollercoaster. On June 17, it fell 4.95%, and on June 18, it dropped another 5.41%, closing at $181.45. Its market value slid from a peak of $2.8 trillion to $2.39 trillion, erasing about $410 billion in just two days.
The decline comes down to four reasons:
1. The U.S. Federal Reserve suddenly turns hawkish. On June 17, the FOMC dot plot released a strong hawkish signal: among 18 officials, 9 expect at least one rate hike this year. SPCX’s price-to-sales ratio is over 100x—once the discount rate rises, valuation is directly under pressure.
2. Options have launched, and short-selling tools are in place. On June 16, SPCX options saw 1.6 million to 1.8 million contracts traded on the first day, crushing Meta’s record of 364k contracts from the same period. “The Big Short” Michael Burry said he was “tempted,” but ultimately abandoned shorting because options were too expensive.
3. Fundamentals can’t support a $2.5 trillion market cap. In 2025, the company’s net loss is $4.9 billion, and in Q1 2026, it will lose another $4.28 billion. Morningstar’s fair value is only $62 per share—about 70% below the current market price.
4. The “AI godfather” publicly sings the blues for xAI. Yann LeCun has publicly said xAI has “failed to some extent,” with members of the founding team leaving—making it hard for $SPCX Musk to attract top AI talent again.
$2.39 trillion market cap, and still burning money on AI—how much longer can the global top ten last?
If SpaceX drops out of the global top ten, do you think it would drag tech stocks down with it? Let’s talk in the comments.

#SpaceX暴跌16%市值蒸发4000亿 Sudden Crash! SpaceX Plummets from Highs, a New Round of Reshuffling in the Crypto World Officially Begins!
The extreme ups and downs of the capital markets are vividly demonstrated through SpaceX. Previously, driven by the dual hotness of AI + space race sectors, SpaceX soared after listing on NASDAQ, causing countless investors to chase the rally madly. But in just a few days, the market completely reversed, staging an epic collapse that not only shook the global tech stock market but also directly impacted the entire crypto market's funds and sentiment.
As of the latest trading session, SpaceX (SPCX) plummeted 16.4% in a single day, with its market capitalization evaporating over $400 billion. Looking at a longer cycle, the destructive power of this decline is even more astonishing: in just three trading days, the total market value shrank by over $927 billion, a retracement of 31.3% from its all-time high. Even though the current stock price remains 14.5% above the IPO price, the panic from the high-altitude plunge has already thoroughly swept through the venture capital market.
The core trigger for this crash is SpaceX’s latest financing move. The company just announced the issuance of unsecured senior notes, planning to raise at least $20 billion for future business expansion. Interestingly, publicly available data shows it holds over $100.8 billion in cash and cash equivalents. Despite ample cash flow, aggressive debt financing has led the market to question its valuation logic, with the overvaluation bubble risk concentrated and a collective sell-off by institutions triggered.
For crypto investors, this wave of market movement is not just a simple US stock fluctuation but a critical signal affecting the overall trend, directly rewriting the short-term crypto market trajectory.
First, risk capital is significantly diverted to safe assets. The US stock and crypto markets share the same global risk capital pool. Previously, a large amount of hot money active in the crypto space had flooded into SpaceX’s space race hype. Now, as high-tech valuations collectively retreat, institutional funds are shifting to risk aversion mode, continuously reducing crypto holdings, directly suppressing Bitcoin and mainstream altcoins’ upside potential, and intensifying market volatility and shakeouts.
Second, market speculative sentiment is rapidly cooling down. The recent surge in SpaceX was fundamentally driven by hype around AI and space themes, closely resembling the speculative logic of many concept coins in the crypto space. The valuation bubble burst has made capital less willing to pay for “long-term stories,” significantly reducing speculative preferences for sectors. Many crypto assets with no real-world application and purely conceptual hype will face ongoing valuation compression.
Finally, panic sentiment continues to spread across the market. Currently, global financial markets’ risk appetite is weakening, compounded by the chain reaction of SpaceX’s massive retracement, and the crypto market has entered a cautious wait-and-see cycle. Leveraged funds are fleeing to safe assets, trading activity has decreased, and a sustained rebound in the short term is unlikely.
Ultimately, SpaceX’s collapse is an inevitable return of the overvaluation bubble. For the crypto market, this wave of market movement signifies the end of short-term speculative gains and the market’s official shift toward de-bubbling and focusing on fundamentals. The subsequent trend is likely to continue wide-range fluctuations, with high-risk tokens still having room to retreat. At this stage, blindly bottom-fishing is highly discouraged; prioritizing risk mitigation by avoiding purely conceptual coins, safeguarding mainstream assets, and strictly controlling positions are the most prudent trading strategies right now. $SPCX