Happy Tuesday!

Bitcoin is stuck at $62,000 and that may be a good thing, because the bear market bottom will only come in Q4, says this top executive.

SpaceX and its record-breaking IPO is sucking up all the attention and rotation risk will likely hurt the IPO blitz and overall market, according to NYU professor Scott Galloway.

Plus, join Direxion this Thursday at 11:00 AM ET to discuss the market’s biggest themes shaping retail trading, including precious metals, crypto, tech and semiconductor stocks. Hosted on Benzinga’s platform, this live bootcamp will explore how active traders are navigating volatility, macro trends, and sector-driven opportunities using ETFs.

TOP STORY

Bitcoin Consolidates At $62,000: Watch Q4 For The Bear Market Bottom, Top Exec Says

Bitcoin is consolidating at $62,000 after a 23% monthly plunge.

Token Bay Capital founder Lucy Gazmararian says this is "classic mid-cycle," not a structural breakdown, with Q4 as the real verdict.

Speaking on CNBC, Gazmararian argued the current bear market arguably began in October 2025 and is playing out exactly as prior cycles have, with newer investors experiencing the pain for the first time.

Her line in the sand: "If we come to the end of 2026 and we're not seeing some improvement in Bitcoin's price and momentum really gaining, then I think we can be concerned".

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Benzinga’s Gianni Di Poce will be joined by Direxion’s Ed Egilinsky for a dynamic conversation covering gold and silver trends, the evolving crypto landscape, AI-driven semiconductor momentum, and broader tech sector opportunities. Attendees will gain insights into current market narratives, trader sentiment, and tactical ways investors are positioning around today’s most closely watched sectors.

The bootcamp will take place live this Thursday at 11:00 AM ET on Benzinga.com.

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QUICK N DIRTY

Bitcoin never stood a chance against the AI bubble, according to Arthur Hayes. Here’s what it means for your investments.

Ethereum has corrected 68% from the bull market top and everybody’s wondering: what went wrong for ETH?

XRP is down to almost a dollar, yet another run to $3 is entirely possible under one condition, this analyst argues.

FINTECH FOCUS

Scott Galloway Says Tesla, Nvidia, Broadcom Could Get Caught In The Crossfire Of The SpaceX IPO

NYU professor Scott Galloway is calling it: one or two of SpaceX, Anthropic, or OpenAI will be "off 60 or 80%" within 12-24 months, and the $400 billion supply flood from their combined listings could force rotation out of names investors already own.

SpaceX lists Friday at $135 per share and a reported $1.77 trillion valuation, while Anthropic and OpenAI both filed confidential IPO paperwork this week, with anticipated $100 billion debuts each.

Co-host Ed Elson spelled out the rotation math: to fund SpaceX allocations, investors are likely trimming Tesla, Nvidia, and Broadcom — the same AI infrastructure names that have been carrying the market.

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