In another sign of speculation coming out of the market, bitcoin tumbled below $60,000 for the first time since late 2024. The iShares Semiconductor ETF is still up 79% on the year even after the recent declines. This rout comes as tech investors get ready for the largest IPO ever in SpaceX next week. Already set to go public at a valuation of $1.77 trillion, Elon Musk’s space and AI venture has boosted enthusiasm for the sector, while also stoking concern among some that its debut could mark some kind of top in what they think is an investing bubble. Others believe part of this chip and bitcoin decline is investors making room in their portfolio for the IPO. “People looking to get into the SpaceX IPO next week, it’s unlikely they’re going to use Procter & Gamble funds to fund it,” said Nationwide’s Hackett. “It’s going to be some of these AI trades, the semis, the momentum names, or at least tech in general. ... $BTC.X $IBIT $MSTR