The "Die-Hard Bull" Shitcoin Longs Now Facing Over $760K in Unrealized Losses

April 3rd: Bloomberg reported Tuesday that SpaceX has raised its initial public offering (IPO) valuation target to over $2 trillion, according to people familiar with the matter. The company and its advisors are sharing this target with potential investors and gearing up for meetings in the coming weeks, with its roadshow presentation expected to include additional details to support the valuation. After acquiring xAI—another firm under Elon Musk’s umbrella—SpaceX’s post-merger valuation hit $1.25 trillion. At a $2 trillion valuation, SpaceX would outpace all S&P 500 companies except NVIDIA, Apple, Alphabet (Google’s parent), Microsoft, and Amazon. It would also exceed two members of the U.S. stock market’s “Big Seven”: Meta and Musk’s own Tesla.

April 3: Spot Brent crude — the North Sea’s physical oil delivery benchmark — topped $140 per barrel, hitting its highest level since 2008. Per S&P Global Platts, North Sea-delivery Brent crude reached $141.37/bbl, marking the highest price since 2008. The Strait of Hormuz has been closed for over a month, triggering the largest oil supply disruption in market history, according to the International Energy Agency (IEA). The strait handles roughly one-fifth of global oil shipments, and refineries have been scrambling for available supplies in recent weeks. Spot Brent was just below $128/bbl one day earlier, and current prices now surpass the peak seen during the 2022 Russia-Ukraine conflict. While benchmark Brent crude futures remain below that peak, spot Brent reflects the price of oil traded over a shorter time horizon. (FXStreet)

April 3rd According to The Block, decentralized perpetual contract platform Hyperliquid is gaining market share from centralized exchanges. In March, its share of total perpetual contract trading volume rose to nearly 6%—up sharply from ~3.5% a year ago—with monthly volume approaching $200 billion. Notably, this growth comes amid an overall decline in exchange trading volumes since the August 2025 peak, meaning Hyperliquid is actually capturing share rather than just riding a broader market surge. Among on-chain rivals, dYdX and GMX have failed to match Hyperliquid’s volume growth or product expansion, with the platform now clearly leading the decentralized perpetual contract space. A key structural driver behind the trend is Hyperliquid’s expansion into non-crypto assets. Commodities like oil are now tradable 24/7 on the platform, and non-crypto asset trading volume’s share of total activity is steadily rising. This underscores decentralized platforms’ structural edge over

ForexLive: On April 3, U.S. President Donald Trump said, "Iran is coming to the table—and they will have to."

As of April 3rd, monitoring data from HyperInsight (via its Telegram channel @HyperInsight) indicates that the entity "Buddy" has increased its ETH long position to 6,860 coins—valued at approximately $14.15 million. The position currently carries an unrealized loss of $70,000, with an opening price of $2,075.11 and a liquidation price of $1,981.13.

On April 3rd, Circle announced the launch of wrapped Bitcoin (cirBTC)—a token backed one-for-one by Bitcoin that’s easily verifiable on-chain, with the goal of seamless integration into Circle’s infrastructure and the broader DeFi ecosystem.