Opinion: Referring to Bitcoin's performance after the Coinbase listing, the US stock market may face a midterm correction after SpaceX goes public

BlockBeats News, June 12, regarding the impact of SpaceX's IPO on the stock market, analyst alicharts referred to the 2021 Coinbase listing as a precedent. Coinbase went public on April 14, 2021. Prior to that IPO, Bitcoin had surged over 1,200% since March 2020. Following the event, Bitcoin experienced a sharp 50% correction. Today, the timing of the SPCX IPO coincides with the S&P 500's over 50% increase in the past year.

alicharts believes that with the extreme hype already being priced in, historically, a period of natural consolidation at a macro level and profit-taking in broader indices would be entirely healthy.