BTC analysis: SpaceX’s $600 billion plunge erased nearly half of bitcoin’s market cap in three days

SpaceX’s $600 billion plunge erased equivalent of nearly half of bitcoin’s market cap in 3 days The newly public company shed close to half of bitcoin's entire market value in three sessions after announcing its first bond sale. Bitcoin, absorbing the same backdrop, fell less than 1%. By Shaurya Malwa|Edited by Omkar Godbole Updated Jun 23, 2026, 7:21 a.m. Published Jun 23, 2026, 6:23 a.m. Disclosure & Polices: CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its publications. CoinDesk is part of Bullish (NYSE:BLSH), an institutionally focused global digital asset platform that provides market infrastructure and information services. Bullish owns and invests in digital asset businesses and digital assets and CoinDesk employees, including journalists, may receive Bullish equity-based compensation.