Peter Schiff Warns SpaceX Selloff Could Hit Crypto

SpaceX shares have taken a sharp turn, closing near 115 dollars this week. This puts the stock nearly 20 percent below its June debut price and almost 50 percent off its previous high. The company's bonds are also struggling, hitting record lows as yields rise to 7.6 percent. This combined pressure on both stocks and debt has caught the eye of market observers.

Peter Schiff recently pointed to these numbers as a potential sign of trouble for the broader market. He suggests that what is happening to SpaceX could serve as a warning for other tech companies and digital assets. According to Schiff, the stress in the bond market often serves as a precursor to wider financial drops, even if his past warnings have faced skepticism from the crypto community.

The timing is particularly sensitive as the company faces a major share lockup expiry in early August. With over 900 million shares becoming eligible for sale, some investors fear further price dilution. Poor quarterly results and delays in flight testing have also dampened sentiment.

Market participants are now watching bond yields closely for any further signals of trouble. While some traders look for technical signs of a rebound, the upcoming earnings report and the share unlock event will likely determine the short term direction for the stock. If the weakness persists, it could change the appetite for risk across both tech and crypto sectors.