Wintermute says SpaceX IPO on June 12 could be next catalyst for bitcoin

Market-maker Wintermute said SpaceX’s stock market debut on June 12 could be a key catalyst for bitcoin and the broader crypto market, with the deal seen as a gauge of retail and risk appetite. According to CoinDesk, Wintermute said last week’s drop was driven by a “missing bid,” not Strategy’s bitcoin sale, and noted retail has been selling crypto and moving into stocks while U.S. institutions offloaded bitcoin bought a month ago. Bitcoin traded near $63,000 on Tuesday, down about 14% over the past week.