Can Bitcoin Price Survive the SpaceX IPO?
Highlights
- Bitcoin price held $64K as geopolitical tensions eased across markets.
- SpaceX IPO may test crypto liquidity as traders chase equities.
- BTC must defend $63.5K to keep $68K breakout hopes alive.
Bitcoin price hovered above $64k after geopolitical tensions eased and traders returned to risk assets across global markets.
The action came after a slight recovery on June 12 where Bitcoin price gained nearly 3% late. The reaction by buyers came following the cancellation of the planned U.S. strikes against Iran by President Donald Trump. His remarks also gave hope of a potential peace deal which lowered demand of defensive assets.
The broader crypto market rose 1.11% to $2.18 trillion and indicates that relief was not just limited to Bitcoin. Ether price remained above $1,600 following a slight recovery, with BNB, Solana, XRP and Cardano also reporting slight gains.
Relief Rally Meets SpaceX IPO Test
SpaceX went public today but Trading is not live yet. The SpaceX IPO is a new liquidity challenge to Bitcoin. The aerospace company sold its IPO at a price of $135 per share and raised 75 billion dollars.
Nasdaq tape early signs indicated the opening trade at close to 175 indicating the high demand before the actual trading could commence. Such a premium might attract interest to equities, particularly investors whose interest is to gain exposure to companies of Elon Musk.
SpaceX went public today but Trading is not live yet.
Here is why.
Before the very first trade happens on any IPO, Nasdaq runs an auction behind the scenes. It collects all the buy orders and sell orders and tries to find one single price where both sides agree to trade.… https://t.co/oDaQUbFYBi pic.twitter.com/5Z3DHRowSW
— Bull Theory (@BullTheoryio) June 12, 2026
The IPO will not be detrimental to Bitcoin, but there is a possibility of it competing with speculative capital. Crypto tends to do well when the surplus liquidity flows widely in the risk assets. A historic listing is able to briefly refocus that liquidity into a single stock story.
Nevertheless, Bitcoin will respond to the IPO based on the ability of strengthening the risk appetite or exhausted short-term momentum. A successful SpaceX launch would help with the wider optimism in case the tech stocks climb with them.
The most important question is whether the price of Bitcoin will be able to remain above the $64,000 region once the first SpaceX hype ends. Owning that area would demonstrate to buyers that they are still active amidst rival market stories.
Bitcoin reclaims $64,000 on SPCX listing day 👀 pic.twitter.com/ONjcRs07tx
— CoinGecko (@coingecko) June 12, 2026
Bitcoin Price Prediction: Can BTC Hold 63k Support Level $68K?
The BTC price traded at $64,109, after gaining 3% on the 24-hour chart. Bitcoin recovered steadily around the $64,000 mark following its defence of the $60,000 support zone. The action exhibited revived purchasing enthusiasm following a decline of higher levels at the beginning of this month.
The primary level of downside support is the $60,000 level. A fall below that might undermine the short term recovery formation.
The RSI also remained above its signal line around 56. The MACD was also positive and the histogram remained above the zero line. This indicates a more successful short-term recovery endeavor.
The short-term goal is at $65,000 if the future Bitcoin outlook continues to pressure above 63,500. Further break out may drive BTC to reach $68,000.
On the negative side, the first support to observe is at 62,000. Under that, the bigger support zone is close to the 60,000 mark.
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Frequently Asked Questions (FAQs)
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