SpaceX's epic IPO may trigger a "bloodletting effect" in tech stocks! Bitcoin faces short-term correlated selling pressure, potentially dropping to $56,000.

Elon Musk's space giant is about to land on the US stock market, but is this really good news for Bitcoin? According to the latest analysis by Cointelegraph, SpaceX, which plans to conduct a $75 billion IPO in June, revealed in its public documents that it holds up to 18,712 Bitcoin, officially surpassing Tesla. However, analysts warn that if SpaceX is added to the Nasdaq index in the future, it could trigger a "bloodletting effect" on existing tech giants through passive funds; and with Bitcoin highly correlated to tech stocks, it may also face short-term volatility from this capital reallocation wave.
(Background: How can Taiwanese invest in SpaceX IPO? Complete guide from pre-IPO to listing day through 4 compliant channels)
(Additional background: Anthropic will pay SpaceX $1.25 billion monthly in exchange for excess computing power of xAI)

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• Surpassing Tesla! SpaceX boldly discloses 18k BTC holdings
• Mag 7 becomes Mag 8? Analysts warn of "capital vacuum effect"
• Bitcoin's double-edged sword: risk of dropping to $56k due to tech stock linkage

Led by Elon Musk, the space exploration giant SpaceX is making an unstoppable push into the public capital markets, but this grand IPO party has caused some unease among Wall Street and crypto investors.

According to Cointelegraph's report today (May 22, 2026), SpaceX plans to launch a $75 billion IPO in June, with an estimated valuation between $1.75 trillion and $2 trillion, making it one of the largest listings in recent years globally.

Surpassing Tesla! SpaceX boldly discloses 18k BTC holdings

In its S-1 registration statement filed with the U.S. SEC, SpaceX gave the crypto market a huge surprise. The document revealed that the company’s balance sheet holds as many as 18,712 Bitcoin (BTC), worth approximately $1.45 billion.

This figure far exceeds previous market estimates and directly surpasses Tesla (which holds 11,509 BTC), making SpaceX the largest Bitcoin holder among companies preparing for or already listed on the market.

Mag 7 becomes Mag 8? Analysts warn of "capital vacuum effect"

While holding a large amount of Bitcoin is a significant long-term institutional bullish signal, in the short term it could trigger chaos in the US stock market.

According to Nasdaq’s newly revised "Fast-track inclusion" rule, SpaceX is highly likely to be included in the Nasdaq 100 index within 15 trading days after listing. At that point, the dominant "Magnificent 7" tech giants will become "Mag 8."

Renowned analyst Nic Puckrin issued a stern warning. He pointed out that the arrival of such a large-cap stock would trigger a severe "Vacuum Effect": large passive funds tracking the Nasdaq would be forced to sell existing components (like Nvidia, Apple, Microsoft) to free up billions of dollars to buy SpaceX, exerting heavy passive selling pressure on current tech giants.

Bitcoin’s double-edged sword: risk of dropping to $56k due to tech stock linkage

Why would this potential tech sell-off affect Bitcoin? The answer lies in their high correlation.

Data shows that Bitcoin’s recent correlation with tech giants is extremely high, with a 30-day rolling correlation coefficient of +0.81 with the Mag 7 ETF. This means that if SpaceX’s Nasdaq effect causes a broad tech correction, Bitcoin could face significant downside risk in the short term.

From a technical perspective, Bitcoin is currently in a dangerous "Rising Wedge Bear Flag" pattern:

• Key support level: Short-term support is around $73,000 to $74,000.
• Breakdown risk: If dragged down by the stock market and breaking support, BTC could further seek a bottom around $56,000.
• Rebound opportunity: Conversely, if it can absorb this capital reset pressure and rebound, the bullish target is $85,000.

In summary, while SpaceX’s listing brings stronger institutional backing to the crypto market, investors should buckle up and prepare for intense short-term volatility caused by this capital reshuffle as the rocket takes off.