• SpaceX Catalyst Thesis: SpaceX’s IPO popped ~20% on debut; some see spillover into crypto, but it could cut both ways depending on whether early traders book profits or losses.
• Bitcoin’s $60K Standoff: BTC defended $60K a third time, retail and whale wallets both shrank, while 1yr MVRV sits deeply negative — a historically lower-risk accumulation zone.
• Relief-Rally Setup vs. Falling Utility: Ethereum funding rates lean short and MVRV is negative, hinting at a possible relief bounce, even as on-chain network utility keeps declining.

The second week of June 2026 opened with a rare convergence of headlines. SpaceX made its NASDAQ debut, a ceasefire announcement lifted risk assets, and Bitcoin once again wrestled with the…