SpaceX is more volatile than Bitcoin, crypto Whales are shorting the stock

Apart from the stock of electronic car manufacturer Rivian (which has since crashed), few stocks rose as fast and are as volatile as SpaceX has been during the first week of trading. After a launch at a price of $150, SpaceX already surpassed Amazon’s market value yesterday and was trading above $200.

As various American media outlets have indicated by now, the rocket manufacturer’s stock is currently more volatile than Bitcoin. But whether that is a good thing remains to be seen. After all, the company is operating at a loss.

Looking at $SPCX and remembering how Crypto used to be. pic.twitter.com/Lbbo0nT49b

— Autism Capital 🧩 (@AutismCapital) June 16, 2026

Hyperliquid

On the very popular Hyperliquid crypto trading platform, you can invest in just about every possible good and stock with crypto. Whereas the oil price was the most popular investment during the Iran-United States war, that has naturally been SpaceX over the past week.

I clock SpaceX going up one point per hour

— Jim Cramer (@jimcramer) June 17, 2026

However, as the rally progresses, more and more larger investors are betting on one side of the rally, namely the downward side.

There are about 300 million dollars in shorts waiting for a crash of SpaceX on the Hyperliquid platform, and many of them are crypto Whales who normally invest in Bitcoin.

It remains to be seen what this means for the SpaceX rally, but at first glance the bullrun temporarily stopped. Yesterday SpaceX closed 4% lower.