Are retail traders selling their bitcoin to buy the SpaceX IPO?
60-second summary
Retail traders are not selling their bitcoin to buy the SpaceX IPO as exchange flows and stablecoin movements show no significant outflow of crypto to cash during this week's sell-off. Although exchanges like Robinhood and Coinbase won't publicly release their figures until July, current data suggests no mass exodus from crypto to traditional assets, indicating a relatively stable market.
Exchange flows and stablecoin movements through this week's sell-off show no wall of money leaving crypto for cash. Exchanges such as Robinhood and Coinbase will not publicly reporting their figures until July.