SpaceX Earnings Night: BTC Holdings Could Move
SpaceX has confirmed it will release its third-quarter financial and operating results after the U.S. market closes on October 20, with an audio livestream starting at 3:30 p.m. Central Time. On-chain data shows the company still holds around 8,285 BTC on its balance sheet, bought in 2021 and untouched ever since.
The real focus of the earnings report is cash flow and Starlink capital expenditure. If the cash burn comes in higher than expected, after-hours sentiment could turn bearish first, and BTC could see a sharp wick down during that four-hour window. But as long as those coins on-chain aren’t transferred to exchanges, any drop is just a shakeout. Conversely, if there’s no mention of selling holdings during the livestream, DOGE will likely follow Musk’s mood and print a bullish candle, while ETH rides the broader market beta higher. Even dumping 8,285 coins into spot market depth would amount to only a few thousand sell orders—not enough to hold things down for a day. Don’t spook yourself.
If it holds above the previous low, it’s building strength. Talk about distribution only if it breaks down on heavy volume.
For that after-hours move on October 20, will you reduce your positions early to manage risk, or bet that Musk keeps holding?
$BTC $DOGE $ETH
SpaceX has confirmed it will release its third-quarter financial and operating results after the U.S. market closes on October 20, with an audio livestream starting at 3:30 p.m. Central Time. On-chain data shows the company still holds around 8,285 BTC on its balance sheet, bought in 2021 and untouched ever since.
The real focus of the earnings report is cash flow and Starlink capital expenditure. If the cash burn comes in higher than expected, after-hours sentiment could turn bearish first, and BTC could see a sharp wick down during that four-hour window. But as long as those coins on-chain aren’t transferred to exchanges, any drop is just a shakeout. Conversely, if there’s no mention of selling holdings during the livestream, DOGE will likely follow Musk’s mood and print a bullish candle, while ETH rides the broader market beta higher. Even dumping 8,285 coins into spot market depth would amount to only a few thousand sell orders—not enough to hold things down for a day. Don’t spook yourself.
If it holds above the previous low, it’s building strength. Talk about distribution only if it breaks down on heavy volume.
For that after-hours move on October 20, will you reduce your positions early to manage risk, or bet that Musk keeps holding?
$BTC $DOGE $ETH