A “seller black hole” worth $30k: SpaceX unlocks are siphoning blood from your positions Brothers, let’s tell a ghost story. There’s a company whose IPO day surged to $225, with market cap crossing $3 trillion, crushing Amazon and Microsoft. Six weeks later, it fell to $108.37. Down 20% from the IPO offering price, and halved from the peak. Its market cap wiped out by more than $1.2 trillion. That company is SpaceX—and its darkest moment hasn’t come yet. On August 4, after the U.S. stock market close. SpaceX’s first quarterly report since going public. This isn’t a normal earnings report. The moment this report is released, it will directly trigger one of the largest batches of insider lock-up shares ever unlocked in human financial history. On August 6, 911.5 million shares meet the conditions for the unlock. At the current stock price, the value is more than $100 billion. And currently, the only publicly traded float that SpaceX has available for free trading is just about 640 million shares. What does that mean? In one night, tradable shares double. And this is only the first batch. By January 2027, nearly 4 billion shares will continue to be unlocked. This isn’t an unlock—it’s a release flood. Morgan Stanley calls it “Max Q,” the moment rockets endure the greatest pressure while rising. More than two-thirds of institutional investors are bearish on SpaceX. Short positions once reached one-third of the float. Musk himself clapped back at the bears on X: “The survival probability of institutions that maintain large short positions in SpaceX long-term is extremely low.” Words are one thing, but the stock price is still falling. Where will the money come from to absorb the $100 billion of sell pressure from the unlock? Morgan Stanley expects SpaceX’s Q2 revenue to be $6.75 billion, but adjusted loss per share of $0.35. The company lost nearly $5 billion last year overall. Starlink users surpass 10 million, with revenue up 50% year over year—but AI infrastructure alone had quarterly capital expenditures of $7.72 billion. Burning money into the sky. Whether the earnings report can provide a path to profitability directly determines whether anyone will take over the $12k（$100 billion）sell-off. If nobody takes it, the stock keeps collapsing. If someone takes it—where does the money come from? For institutions to absorb this $100 billion, there are only two ways: First, sell other tech stocks. Apple, Nvidia, Microsoft—cut positions. Second, reduce BTC/ETH spot ETF holdings. Free up cash. This isn’t speculation. Back in June, analysts warned that SpaceX, OpenAI, and Anthropic combined to raise more than $240 billion within the year, which would siphon liquidity out of the tech, AI, and crypto markets. Now, the bloodletting is here. Liquidity transmission chain: SpaceX earnings miss expectations → no one absorbs the unlocked shares → stock price collapses → institutions are forced to cut other assets to post margin. SpaceX earnings beat expectations → institutions expect good prospects and want to take over → sell BTC/ETH ETFs to raise cash. No matter whether the earnings are good or bad, the crypto market is still the one getting bled. Two key time points: August 4, after the close—earnings report. Determines whether it’s worth it. August 6—unlock. The actual selling pressure lands. Around these two dates is the toughest liquidity vacuum period for the crypto market. BTC is currently ranging around $62,000–$63,000. ETH is struggling in the $1,830–$1,880 range. Don’t ask why it can’t go up. Ask why the money is being siphoned away. #Gate独家美股0费率 #USD1持币生息最高8% #长鑫科技市值突破4万亿元 $BTC $ETH $SPCX

$ETH On August 2, U.S. President Trump posted that, “The United States is ready to confront Iran—at a level of military deterrence, force, and strength never seen since World War II. Nevertheless, we have just received a request from Iran and other Middle Eastern countries, asking that we hold off on any attacks, because a framework agreement has been reached. This will include the immediate, complete, and total opening of the Strait of Hormuz, and ending Iran’s nuclear threat. Based on this request, I agree to cancel the attacks for the future interests of the world, and for the survival of a successful and prosperous Iran, on the condition that an agreement can be reached quickly. Israel and I commit to this together. Everyone, let’s get to work and get this done.”

$BTC $GT $ETH Yesterday’s two reminders focused on 哆 as the main battlefield. In the early hours today, we were reminded again, with the peak approval at around 1,300+60 points. A positive mindset is like a bright lighthouse, illuminating the road ahead.