AskClash

SpaceX (SPCX) closed Friday at $134.72, down 6.4% and back below its $135 IPO price. That marks its lowest close since August and over $500B in market value lost since the Oct. 6 high. The drop came during a broad tech selloff, with Intel’s weak guidance also weighing on SpaceX through their partnership. On the other side, Cathie Wood says SpaceX is undervalued because its AI, robotics and energy storage businesses are covered by separate analyst teams. She expects that gap to close as firms build dedicated coverage.

The Crypto Fear & Greed Index reads 30 today, in Fear territory. Earlier this week it sat near 50. The drop follows Binance’s $6.3B hack, the largest crypto theft on record, which helped push Bitcoin to a six-week low near $76K. Track sentiment on the chart: askclash.ai/marketcap

Apple has overtaken Nvidia in market value, $5.03T to $4.93T. Friday’s session flipped the order. Nvidia fell 4.2% to $204.64, slipping below $5T, as chip stocks sold off after Intel’s weak guidance renewed questions about returns on AI spending. Apple held up better ahead of its Nov 2 earnings.

Most of Bitcoin’s nearby liquidation risk sits above price. Our 1W map shows an estimated $1.52B in short positions stacked between spot ($77,450) and roughly $83,000, with the first major cluster at $79,266, just 2.3% higher. The nearest long cluster is $76,090, about 1.8% below. Price came within a few hundred dollars of it during the Binance hack selloff, dipping near $76,300 before recovering above $77,000.

Spot Bitcoin ETFs have taken in about $441M over four straight sessions, but the streak nearly stalled on Oct 29 at just $17.2M, roughly 88% below the day before. The slowdown landed the same day Binance disclosed a $6.3B hack that blockchain analysts link to North Korea. BlackRock’s IBIT led with $12.8M in inflows, while Grayscale’s Bitcoin Mini Trust saw the largest outflow at $15.3M.

$1.02B in leveraged crypto positions were wiped out in the last 24 hours, and stablecoin supply is down $4.12B over the past week. The selling picked up after Binance disclosed a $6.3B hack, which TRM Labs and Chainalysis link to North Korea’s TraderTraitor group. Binance says user funds are safe and about $3B has been frozen. Spot Bitcoin ETFs still added $17.2M on Oct 29, a fourth straight day of inflows, though well below the prior day’s pace. Our Pulse score reads 33, in Cautious territory.

About $6.6 trillion in market value reports earnings in the first two days of next week. Apple and Palantir go first on Monday. Apple’s numbers include the first days of iPhone 18 Pro sales and mark John Ternus’s first earnings call as CEO. Tuesday leans heavily on AI hardware, with AMD, Arista Networks, and Super Micro all reporting. Super Micro already lifted its quarterly revenue estimate to $18.5B to $19.5B, citing stronger AI demand, so the outlook may matter more than the headline.

September payrolls rose by just 29,000, well below the roughly 90,000 forecast. Next week, the US job market gets two fresh check-ins. JOLTS job openings on Tuesday shows how many roles employers are trying to fill. Nonfarm Payrolls on Friday shows how many jobs were actually added in October. Both land days after the Fed held rates at 3.75% to 4%, with two officials voting for a hike. Inflation remains above target, while hiring has slowed. These reports will help show which side carries more weight heading into the December meeting.

Intel is leading today’s selloff so far, and the damage has spread across the chip supply chain. Arm, AMD and Dell are among the biggest decliners, while chip equipment makers Lam Research, Applied Materials and ASML are also deep in the red. Big Tech is under pressure too, with the Nasdaq 100 falling harder than the S&P 500. Healthcare stands out on the other side, led by AstraZeneca and Eli Lilly. Intel’s fourth-quarter revenue guidance missed Wall Street estimates, and the company warned PC weakness could last into 2027. That raised questions about chip demand well beyond Intel.

Bitcoin is down about 7% in October heading into the monthly close, trading near $77,300 after dipping to $76,443. If the month closes red, it would be Bitcoin’s first back-to-back red Octobers in over a decade. The latest drop came after Binance confirmed a security breach with an estimated $6.3B impact, the largest crypto hack on record. Binance says about $3B has been frozen and it will cover all losses. History offers mixed signals for what comes next. November has closed green in 8 of the last 13 years, but last year’s red October was followed by a 17.7% drop in November.

The largest liquidation cluster on Binance’s BTC/USDT heatmap sits near $82,177, about 4.9% above spot at $78,305, with an estimated $131.3M in short positions stacked there. This follows a heavy flush. About $1.49B in crypto positions were liquidated in 24 hours, mostly longs, as BTC slid on a suspected Binance hack the exchange now puts at about $6.3B. Full heatmap: askclash.ai/tools/liquidatio…

Stablecoin supply fell $2.11B in the past day to $300.52B, bringing the 30-day decline to $7.70B. Stablecoins are the digital dollars traders use to move in and out of crypto. When supply shrinks, more tokens are being redeemed for cash than created, leaving less ready capital on-chain. USDC has led the pullback, shedding about $4.1B over the past month. The drop comes as the Fed held rates steady this week and markets look ahead to the Bank of Japan decision on Oct 30. Supply now sits about $16B below its one-year high.

$1.51B in leveraged crypto positions were force-closed in the past 24 hours, and $1.30B of that came from longs, about 86% of the total. The selloff followed reports of a potential security issue at Binance after billions in crypto left its hot wallets. Binance says it is investigating and user funds are safe, while Tether and Circle have frozen $2.54B in linked stablecoins. Binance also carried half of all liquidations at $757.94M. HTX was the only venue where shorts outweighed longs.

$1.15B in leveraged crypto positions were forcibly closed in the past 24 hours, and $973M of that came from longs, traders positioned for prices to rise. The selloff followed large outflows from Binance hot wallets that co-founder CZ said look like a hack. Binance says it is investigating and that user funds are safe. Bitcoin slipped below $79,000, with roughly $628M liquidated in a single hour. Smaller coins combined for $395M, more than BTC’s $378M.

Canada just raised interest rates for the first time since July 2023. The Bank of Canada lifted its policy rate from 2.25% to 2.50% on October 28, ending a hold that lasted seven straight meetings. See how Canada compares on the Global Macro Map: askclash.ai/macro/map