Bitcoin History Shows SP500 Could Drop After SpaceX IPO: Possible Impact on BTC
Historical data surrounding how Bitcoin reacted before and after the Coinbase IPO suggests the S&P 500 could pull back after the SpaceX IPO. As investors look ahead to the SpaceX IPO, market analyst Ali Martinez has called attention to Bitcoins performance around the Coinbase public listing in 2021 as a hint to what could happen next in the stock market. According to Martinez, the strong gains recorded by the S&P 500 over the past year could be followed by a period of cooling off after SpaceX goes public. If this happens, some of the money leaving stocks could find its way into Bitcoin and the broader crypto market. Ali Martinez Compares SpaceX IPO to Coinbase Listing In a recent market commentary, Martinez compared the upcoming SpaceX IPO with the Coinbase IPO, which took place on April 14, 2021. He noted that Bitcoin enjoyed a massive rally before Coinbase entered the public market. Specifically, between March 2020 and April 2021, BTC climbed more than 1,200% and reached a high of about $64,000. However, the rally did not continue for long after the listing. Within weeks, Bitcoin lost around 50% of its value and dropped to roughly $30,000 by May 2021. Martinez believes a similar pattern could play out









