How SpaceX's $75 billion IPO could drain the liquidity that's been lifting bitcoin

A $75B SpaceX IPO would soak up risk-asset liquidity that has been parked in bitcoin and other speculative assets. Lead with the cross-market plumbing: BTC has functioned as the marginal liquidity sink in the AI/space-stock bull, and a mega-IPO could redirect that flow. The mechanism is portfolio rebalancing, not narrative — readers who treat crypto as decoupled from equities should see the actual pipe.