I know some people may be asking (How will the SpaceX IPO hit crypto?)
The SpaceX IPO is exerting visible downward pressure on the crypto market through a major liquidity drain, as both institutional and retail investors rotate risk capital out of digital assets to participate in the historic stock debut. The massive $75 billion offering- valuing SpaceX at $1.77 trillion- has drawn over $250 billion in total demand. The massive reallocation has left an immediate impact on the crypto space.