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- SpaceX Won’t Get Fast-Tracked Into the S&P 500
SpaceX Won’t Get Fast-Tracked Into the S&P 500
PLUS: Zcash Crashes After Bug Discovery
Welcome back to The Warmup.
This is me seeing my neighbor who invested in stocks get a new car while I hold Ethereum.
Here’s what we’re watching:
Market Snapshot
SpaceX Won’t Get Fast-Tracked Into the S&P 500
HYPE Support Bounce Play
Zcash Crashes After Bug Discovery
Calendar
Market: Risk assets are moving higher, led by Ethereum and tech stocks, while a weaker dollar supports the bullish trend.
SpaceX Won’t Get Fast-Tracked Into the S&P 500
What’s going on:
S&P Dow Jones Indices confirmed it won’t change its rules for megacap companies joining the S&P 500.
That means SpaceX will not get a shortcut into the index, despite recent speculation.
Instead, SpaceX would need to trade publicly for at least 12 months before being eligible.
It also still has to meet the usual requirements around profitability, float, liquidity, and market cap.
What it means:
This is good news for passive investors who were worried they could be forced to buy SpaceX at an inflated IPO valuation.
No fast track means no instant index demand.
SpaceX still has to prove itself in the public market first.
HYPE Support Bounce Play
What’s going on:
HYPE bounced hard from the $56–$60 support zone and is now trading near $65, up almost 9% on the day.
That bounce suggests buyers are defending the previous breakout area.
Key levels we’re watching:
Support: $59–$60
Resistance: $66–$68
Upside target: $72–$76
Breakdown risk: Close below $56
Directional Bias: Cautiously bullish
HYPE is showing strength, but bulls still need to reclaim the $66–$68 zone to confirm continuation.
What we’re waiting for:
A clean hold above $60
A breakout above $68
BTC staying stable
Zcash Crashes After Bug Discovery
What’s going on:
Zcash ended the week with a major scare.
A critical bug was found in Orchard, one of its private shielded pools. The bug had existed for roughly four years and could have allowed unauthorized ZEC to be created.
Because Orchard is private, developers can’t immediately prove whether fake tokens were ever minted.
The bug has now been fixed, and the Zcash Foundation says there’s currently no evidence of unauthorized token creation.
But a new upgrade is being proposed to verify the supply.
What it means:
Even if the bug was never exploited, the uncertainty was enough to crush confidence and send ZEC sharply lower.
The bigger issue is that AI helped uncover a four-year-old vulnerability, which raises a scary question:
How many old bugs are still hiding across crypto?
AI will help security teams find them, but attackers have those tools too.
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 | BMNR: |
Key Events this Week
Macroeconomic data calendar:
Tue (Jun 9):
May Existing Home Sales: Tracks sales of pre-owned homes → higher sales show housing market strength; falling sales may point to cooling demand.
Wed (Jun 10):
May CPI Inflation Data: Key measure of consumer price growth → critical for gauging inflation pressure and future Fed policy direction.
Thu (Jun 11):
May PPI Inflation Data: Tracks wholesale price inflation → rising PPI can signal future consumer price pressure.
OPEC Monthly Report: Updates oil supply, demand, and production outlook → important for energy prices and inflation expectations.
Fri (Jun 12):
Michigan Inflation Expectations: Measures where consumers think inflation is headed → higher expectations can make the Fed more cautious.
Michigan Consumer Sentiment: Measures household confidence → stronger sentiment suggests resilient spending, weaker sentiment signals consumer stress.
Major Earnings Releases:
Wed (Jun 10): Oracle
What’s the bigger takeaway from the Zcash bug? |
Capital isn’t leaving risk assets, it’s just choosing AI over Bitcoin right now.
That makes this less of a Bitcoin failure and more of an attention problem.
Crypto’s next winners won’t just be the loudest narratives, but the businesses producing real revenue through the cycle.
The market is basically asking: “what still works when number doesn’t go up?”
— The Warmup Team
Always do your own research. This newsletter is supplemental material to help educate readers as they make their own decisions. Projects mentioned here are provided to give a potential early-mover advantage.