Elon Musk’s SpaceX IPO: The Bull and Bear Case for Bitcoin – Decrypt
In brief SpaceX’s IPO joins an AI-driven tech rally and geopolitical uncertainty in stress testing crypto’s already waning attention and liquidity. Pre-IPO perpetuals on Hyperliquid have amassed $240 million in open interest, rivaling Solana perps despite offering only 5x leverage. A first-day pop above 25-30% in SpaceX’s SPCX could trigger a wealth effect rotation into...
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