A historic stock market debut is imminent, with SpaceX's $75 billion IPO expected to draw significant interest from investors. This massive capital raise, combined with the planned listings of OpenAI and Anthropic, could exceed $240 billion, surpassing the total venture-backed US IPOs since 2000. As a result, crypto markets may be affected as they share the same liquidity pool. The IPOs could lead to a rotation of capital out of equities and into these new listings, potentially causing a decline in crypto prices.
With bitcoin and other major cryptocurrencies having traded in correlation with the Nasdaq and S&P 500, a significant outflow of capital from equities could impact crypto markets. The upcoming IPOs will be a key test for crypto, as investors allocate their funds and potentially withdraw from higher-risk assets like cryptocurrencies.
Whether crypto will hold up or decline during this period remains to be seen, but the impact of these IPOs on the market will be closely watched.