June 9: Is SpaceX Draining Liquidity From Crypto?

June 9: Is SpaceX Draining Liquidity From Crypto?

From Daily Crypto News by Matt Diemer

June 9, 2026 · 11 min

About this episode

Matt discusses the impact of SpaceX's upcoming IPO on the crypto market and recent Bitcoin trading trends.

After a week away in New York, Matt returned to Daily Crypto News with a simple observation: Bitcoin at roughly $62,000 does not inspire confidence when it was trading near $85,000 just a month ago. Yet despite the fear, some major players are still buying. Michael Saylor made headlines again after Strategy purchased approximately 101,550 Bitcoin between June 1 and June 7, adding roughly $101 million worth of BTC to its balance sheet. At the same time, many investors are pointing to the upcoming SpaceX IPO as a possible reason for crypto's recent weakness. The theory is that investors are pulling capital out of risk assets, including crypto, to position themselves for what could become one of the largest and most anticipated public offerings in years. Matt questioned whether that narrative fully explains the downturn but acknowledged that demand for SpaceX appears enormous, especially if the company quickly becomes eligible for inclusion in major retirement and index-based investment portfolios. The broader financial system continues moving toward blockchain-based infrastructure. According to reports, major U.S. banks including JPMorgan, Bank of America, Citigroup, and Wells…

People in this episode

Host: Matt Diemer

Topics covered

  • Bitcoin
  • SpaceX IPO
  • liquidity
  • crypto market
  • blockchain infrastructure

Keywords

  • Bitcoin
  • SpaceX
  • IPO
  • liquidity
  • crypto
  • blockchain
  • investing

Mentioned in this episode

Organizations: SpaceX, JPMorgan, Bank of America, Citigroup, Wells Fargo

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