A historic stock market debut is on the horizon, with SpaceX's planned $75 billion IPO set to take place in June, drawing from the same liquidity pool as crypto. This massive capital raise, combined with the upcoming listings of OpenAI and Anthropic, is expected to exceed $240 billion, surpassing the total venture-backed US IPOs since 2000. The impact on crypto markets could be significant, as the same liquidity pool that fuels tech and AI equities also supports bitcoin and other digital assets. With a 30% retail allocation and a material bitcoin position, SpaceX's IPO could signal a shift in investor sentiment, potentially leading to a decrease in crypto prices.
As the roadshow approaches, the market will be closely watching to see if crypto can hold its ground or will begin to drift lower, making way for the incoming IPOs.