The Surprising Reason the SpaceX IPO Could Be Fueling the Bitcoin Sell-Off
Bitcoin has been selling off since privately held SpaceX filed to go public on May 20.
The Surprising Reason the SpaceX IPO Could Be Fueling the Bitcoin Sell-Off
Overview
On June 5, Bitcoin (CRYPTO: BTC) fell below $60,000 for the first time since September 2024 in lockstep with a broader decline in tech stocks that dragged the Nasdaq Composite (NASDAQINDEX: ^IXIC) down 4.2% for its worst day of 2026. Bitcoin is down more than 20% during the past month.
Here's the surprising reason the planned SpaceX initial public offering (IPO) could be partially to blame for the crypto sell-off, as well as a look at whether Bitcoin is a good buy now.
Image source: Getty Images.
Details
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Originally published at www.fool.com.
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