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Opinion: SpaceX IPO or expanding the Nasdaq BTC exposure may create short-term bearish pressure on tech stocks and Bitcoin capital siphoning.

MeNews
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ME News, May 22 (UTC+8): Analyst Yashu Gola stated that SpaceX plans to launch a $75 billion IPO in June. If, after listing, the valuation reaches $1.75 trillion to $2 trillion, it may be added to the Nasdaq 100 index within 15 trading days via Nasdaq’s “Fast Entry” rule, and expand the index’s exposure to Bitcoin. The report said that Bitcoin has recently shown a high correlation with the price movements of large tech stocks; the 30-day correlation between BTC and the Magnificent Seven ETF (MAGS) is currently around 0.81. Analysts believe that if tech stocks face pressure due to index rebalancing, Bitcoin may also face short-term downside risk. (Source: ChainCatcher)
BTC-2.31%
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OtcMoonwalker
· 5h ago
75B in funding + rapid inclusion, this liquidity siphon effect makes BTC tremble.
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GateUser-53a6e1a8
· 6h ago
If SpaceX's IPO actually gets into the NASDAQ 100, the rebalancing wave of selling pressure is probably going to be significant.
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GotLiquidatedAgainLastNight.
· 6h ago
Is the rule of entering the NASDAQ 100 within 15 trading days just a backdoor for giants?
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GateUser-72e48736
· 6h ago
1.75 trillion valuation, Musk is about to be deified again, but crypto people only care if it will crash the market.
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GlassDomeBaskingInMoonlight
· 6h ago
A $2 trillion valuation enters the Nasdaq; on the day of the weight adjustment, quantitative funds are likely to drastically rebalance their portfolios.
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RecedingTideAfterTheRain
· 6h ago
SpaceX's public offering funds drained, tech stocks fell, BTC followed suit, a perfect closed loop
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GateUser-44dde53b
· 6h ago
MAGS and BTC correlation is 0.81, so what other coins should I buy? Might as well just buy tech stocks directly.
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