Korea's Kospi Declines 4.4% Amidst AI Trade Volatility, with $101 Billion of SpaceX Stock Becoming Tradable on Thursday.
By Shaurya Malwa Aug 6, 2026, 4:59 a.m. 2 min readMake preferred on Share this articleCopy linkX (Twitter)LinkedInFacebookEmailMake preferred on Bitcoin Remains Steady Above $64,000 as Traders Eye SpaceX's $100 Billion Stock Unlock. (Asa E K/Unsplash)SummaryShow- Bitcoin has maintained its position above $64,600, supported by buyers who intervened during a dip earlier this week, while optimism is more focused on Bitcoin than the overall crypto market.
- Other major cryptocurrencies experienced mixed results, with ether slightly up, XRP and BNB down, and Hyperliquid’s HYPE showing the highest weekly gains among large tokens.
- Global risk sentiment has softened due to a decline in a key equity index and losses in chipmakers, despite gold prices rising on reduced expectations for interest rate hikes, as traders await SoftBank's results for insights into private AI investment.
On Thursday, Bitcoin traded just above $64,600, showing a slight increase for the day and a 0.5% rise over the week, while the major cryptocurrencies lacked clear direction.
Market attention is also on SpaceX, owned by Elon Musk, where approximately $101 billion worth of stock becomes tradable due to the expiration of the first lockup. The company holds 18,712 BTC, valued at about $1.1 billion as of the end of June.
Ether saw an increase of over 1% to $1,904, but is down 0.7% over the past week. XRP was the weakest performer, dropping nearly 3% to $1.04, also reflecting a 3% decline for the week. BNB fell by over 1% to $595, although it remains the top performer among major cryptocurrencies over the week, with a 3.5% increase.
Solana decreased by almost 1% to just under $74, while dogecoin also fell to 7 cents. Tron stayed stable at 33 cents, and Hyperliquid's HYPE remained relatively unchanged at $56, marking over a 4% increase for the week, the best performance among major tokens.
According to Alex Kuptsikevich of FxPro, Bitcoin has gained momentum since Monday when buyers stepped in during a dip towards $62,500, pushing the price back above the 50-day moving average. He noted that optimism is currently more centered on Bitcoin rather than the broader market, which is typical for the early stages of a long-term shift.
The equity market backdrop has worsened, with the MSCI All Country World Index breaking a five-day winning streak, declining by 0.2% as chipmakers faced losses on both sides of the Pacific. The Kospi index in South Korea, a key indicator for AI investments, fell 4.4%, led by declines in SK Hynix and Samsung.
Futures for the S&P 500 and European stocks showed slight increases.
Gold prices rose by 0.4%, reaching their highest level since June, as traders adjusted their expectations for interest rate hikes. Meanwhile, Brent crude remained under $80 per barrel after Iran announced it had reached an agreement with Oman regarding a shipping route through the Strait of Hormuz.
SoftBank is set to report its earnings later on Thursday. The company has invested $34.6 billion in OpenAI through Vision Fund 2 since September 2024 and owns chip designer Arm. Its earnings are viewed as an indicator of the health of private AI investments.