Institutional demand is also showing signs of stabilization after weeks of persistent outflows. U.S. spot Bitcoin ETFs recently recorded their strongest daily intake since mid-May, with $85.9 million in net inflows on Friday, suggesting that the recent selling pressure—partially attributed to investors liquidating crypto positions to participate in the massive SpaceX IPO—may be subsiding. Adding to the intrigue, SpaceX’s IPO filing revealed the aerospace giant holds 18,712 Bitcoin as a strategic treasury reserve, a disclosure that has bolstered confidence among crypto market participants as the asset class navigates this latest cycle.

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