Bitcoin Crashes As Space Stocks Soar: Is SpaceX’s IPO Pulling Capital Away From Crypto?
Posted On June 4, 2026
Macro strategist Callum Thomas shared a chart-based observation on Wednesday, highlighting how a sudden rally in space stocks aligned with Bitcoin’s (CRYPTO: BTC) decline.
Crypto Bros Channeling Liquidity To Space Stocks?
Thomas, the head of research and founder of Top Down Charts, replied to an X post asking whether cryptocurrency investors might be selling Bitcoin to buy AI, semiconductor and space stocks ahead of SpaceX’s IPO.
“Sort of looks like that– the recent pop in space stocks (linked to SpaceX IPO) took place just as Bitcoin rolled over,” Thomas said, pointing to the chart.
Comparing Bitcoin’s monthly returns with those of major space-related firms and ETFs showed a similar trend.
| Asset | 1-Month Gains +/- |
|---|---|
| Bitcoin | -21.23% |
| Rocket Lab Corp. (NASDAQ:RKLB) |
-42.82% |
| Firefly Aerospace Inc. (NASDAQ:FLY) | +19.21% |
| Intuitive Machines Inc. (NASDAQ:LUNR) | +33.45% |
| Tema Space Innovators ETF (NYSE:NASA) | +20.29% |
‘Exit Liquidity Rotation’
Financial analyst Thierry Borgeat argued that roughly $350 billion in …
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