SpaceX shares (SPCX) have fallen more than 26.5% over five trading sessions since listing, and recently traded at $154.14, about 30% below the post-IPO peak. Ortex data show short interest rose sharply to 13% from 8%, pointing to a rapid buildup in bearish positioning. Around 83 million shares are sold short versus average daily volume of about 270 million shares, a setup that can amplify volatility.

Strategy (formerly MicroStrategy) shares fell below $100 on June 23, dropping 5.82% to $97.79 and extending losses to about 20% over the past five trading sessions and more than 38% over six months. Bitcoin critic Peter Schiff said persistent short pressure could force the company to sell Bitcoin to repurchase stock, raising fresh questions about the resilience of its capital structure. The company sold about 2.71 million MSTR shares last week for $335.5 million, allocating $35 million to buy 520 BTC and moving the remainder into U.S. dollar reserves.

Michael Saylor旗下公司Strategy本周以3500万美元增持520枚比特币，同时将美元储备提升至14亿美元。此举源于上周出售271万股MSTR股票（套现3.36亿美元），部分资金用于BTC增持，其余用于支撑其STRC优先股信用。尽管引发股东对持续减持MSTR的质疑，但MSTR股价当日盘前上涨3.44%至116.40美元，显示市场将该操作解读为强化资本结构与STRC兑付能力的积极信号。

The White House wants the Digital Asset Market CLARITY Act passed before July 4 to set rules for trading tokenized U.S. stocks. Senate delays, driven by concerns about Donald Trump’s ties to the crypto industry, have left the timeline uncertain, with approval odds trading on prediction markets. Robinhood and Coinbase could benefit directly if the rules take effect, as both platforms support tokenized stock trading. HOOD rose 2.80% to $108, while ARK Invest added more than $18 million of COIN.

In the first half of 2026, Strategy (MSTR) fell 27% as Bitcoin’s decline left its 847,000-coin position with $1 billion in unrealized losses. The company also posted a Q1 loss of $38.25 per share, far wider than expected. Coinbase (COIN) slipped 29% over the same period, with stronger fundamentals but pressure from the broader industry and uncertainty over when the CLARITY Act could pass. The comparison slightly favors COIN, though both remain under strain in a bear market.

SpaceX shares have extended a second-week pullback after the company’s IPO, with the stock at $183, about 12% below a recent high. Shares were priced at $135 and opened at $150, rising more than 19% on the first day before giving way to profit-taking and broader macro pressure. Investors’ risk appetite has been constrained after the Federal Reserve held rates steady while signaling a tighter stance, alongside concerns over a high valuation tied to Q1 revenue of 4.7 billion and limited tradable shares. Expectations around a bond refinancing have also added to near-term volatility.

SpaceX is exploring a bond sale of up to $20 billion to refinance a bridge loan maturing in September 2027, with long-term debt at about $29.1 billion. The plan has revived concerns about leverage, sending SPCX down 9% to $174.49. The company’s recent IPO valued it above $3 trillion, but investors have grown more cautious about debt sustainability in high-growth tech names. The move is most directly tied to SPCX, with spillover pressure on similarly high-valuation peers such as Amazon and Microsoft.

MicroStrategy director Jarrod Patten has sold a total of 55,750 MSTR shares over the past three months, booking nearly $9 million in profit. His latest sale involved 1,500 shares earlier this week, after exercising options at $18.24 and selling at $134. MSTR shares fell more than 5% in a single session and are down 30% over the past month. The article refers to “Strategy” as MicroStrategy (NASDAQ: MSTR), whose stock swings are closely tied to its operating and governance risks.

Donald Trump said a US-Iran peace agreement helped drive a sharp rise in U.S. stocks, with the S&P 500 pushing above 7,400. Over the same period, WTI crude fell 28.24% over the past month to $74.76 a barrel, while Brent slid more than 30% to $77.70. The report links the oil selloff to easing geopolitical risks and says lower energy prices could ease inflation pressure, reducing the need for aggressive Fed tightening. It also describes the S&P 500, WTI and Brent as direct beneficiaries of the shift, according to Trading Economics data.