SpaceX's $75 billion IPO could drain the liquidity that's helping lift bitcoin and crypto

SpaceX, along with industry giants OpenAI and Anthropic, plans to raise over $240 billion through public listings between June and year-end 2026. Experts warn that this massive capital pull could drain liquidity from the risk-on investment pool that currently supports bitcoin and other cryptocurrencies. Because crypto has shown increasing correlation with tech equities, analysts suggest that capital rotated into these high-profile IPOs may lead to downward pressure on digital assets. Historically, significant institutional milestones, such as the 2021 Coinbase debut, have coincided with market peaks; however, the market's response remains to be seen as it navigates these unprecedented listing volumes.

(Source：CoinDesk)