Bitcoin Tops $64K as SpaceX IPO Debuts; 200‑Week SMA at Risk

Bitcoin climbed to roughly $64,000 on Friday during U.S. trading as SpaceX’s initial public offering began trading. Trader and analyst Rekt Capital warned that the 200-week simple moving average (SMA), near $62,025, may fail to act as support.

Markets reacted to hopes for a de-escalation between the United States and Iran, though no agreement had been confirmed. President Donald Trump wrote on Truth Social that the Iranian statement on a deal “bears no relation to the truth” and described it as “weak and pathetic.”

SpaceX shares opened at $170, about $45 above the IPO price. U.S. equity indexes were mostly flat at the open, with strong labor-market data and persistent inflation cited by market participants as competing influences on investors.

Crypto and other risk assets maintained gains despite inflation readings this week that reached multi-year highs. Mosaic Asset Company wrote that stronger economic data has given many stocks room to rally even as inflation remains high, and it noted that some AI infrastructure stocks cooled while sectors that fell in late March started to recover.

Technical traders flagged possible downside for Bitcoin even as prices reached local highs. Rekt Capital wrote on X: “Bitcoin is currently treating the 200-week SMA as support. But this SMA has historically proven to be an unreliable support, with price breaking down from it over time.” He also noted that Bitcoin trades about 14% below its 2021 all-time highs and that such deviations can take months to fully develop before a bear-market low forms.

The 200-week SMA averages price data over roughly four years and is used by some investors to assess long-term trend health. A sustained break below that line would concern those who view it as a baseline for structural support; holding above it is viewed by others as a sign that longer-term bullish momentum remains.

Market participants said the short-term outlook will hinge on how investors weigh economic data, geopolitical developments and liquidity conditions. For Bitcoin, the immediate tests are whether price action can remain above the 200-week SMA and whether gains extend beyond recent local highs near $64,000.