Crypto's Liquidity Pool in Focus as Big IPOs Approach
The upcoming IPOs of SpaceX, OpenAI, and Anthropic are expected to raise over $240 billion, potentially pulling liquidity from the crypto market. With these listings, the correlation between crypto and tech stocks may increase, leading to a possible rotation out of crypto. The historical parallel with Coinbase's IPO in 2021 is a point of concern, as it marked the top of the last bitcoin cycle.
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