If you're wondering why Bitcoin's stuck between $61k and $63k, stop staring at the charts and look at Wall Street.
Tomorrow, Thursday, the subscription for SpaceX ($SPCX) closes before it starts trading on Friday. It's the largest IPO in history ($75,000M) and it's creating a massive vacuum effect in the market.
A lot of funds and retail traders are liquidating crypto to raise cash and jump in at $135 a share. On top of that, going public forces them to offload the $603M in BTC they have on their balance sheet, and the market is getting ahead of that noise.
Buckle up for some volatile hours ahead. 📊🛸
Tomorrow, Thursday, the subscription for SpaceX ($SPCX) closes before it starts trading on Friday. It's the largest IPO in history ($75,000M) and it's creating a massive vacuum effect in the market.
A lot of funds and retail traders are liquidating crypto to raise cash and jump in at $135 a share. On top of that, going public forces them to offload the $603M in BTC they have on their balance sheet, and the market is getting ahead of that noise.
Buckle up for some volatile hours ahead. 📊🛸