Bitcoin faces a Wall Street test as AI’s mega-IPO wave targets the same capital
A potential mega-IPO wave led by OpenAI, SpaceX, and other AI giants could reignite risk appetite across markets, while also testing whether Bitcoin still holds its role as Wall Street’s favorite high
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Crypto is being pulled by speculation at both extremes: capital is leaving Bitcoin for AI-linked risk while traders still chase politically charged tokens with little underlying utility. That split matters because it shows how quickly narratives, not fundamentals alone, can redirect attention, liquidity, and confidence across the sector.
Bitcoin’s latest liquidation wave and ETF outflows are testing Wall Street’s still-bullish $100,000 targets just as a potential AI mega-IPO cycle competes for the same money. At the same time, FTT’s 50% spike on Sam Bankman-Fried’s pardon bid and a cooling market-implied timetable for the CLARITY Act underscore how event-driven bets are increasingly shaping crypto behavior.
The global crypto market cap is $2.12 trillion, with a 24-hour volume of $84.86 billion. The price of Bitcoin is $60,873.38, and BTC market dominance is 57.9%. The price of Ethereum is $1,625.26, and ETH market dominance is 9.3%. The best-performing sector is Sports, which gained 3%. The Crypto Fear & Greed Index is currently Extreme Fear (10).
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Bitcoin faces a Wall Street test as AI’s mega-IPO wave targets the same capital
A potential mega-IPO wave led by OpenAI, SpaceX, and other AI giants could reignite risk appetite across markets, while also testing whether Bitcoin still holds its role as Wall Street’s favorite high-beta trade.
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