Crypto Market Weekly: SpaceX IPO Frenzy, Standard Chartered’s $100K Bitcoin Target, and JPMorgan’s Crypto Forecast Explained

The crypto market had an event-packed week from June 8 to June 13, but the SpaceX IPO that happened on June 12 stood out as the most talked-about event after the company went public and became the eighth-largest public holder of Bitcoin.

Standard Chartered also reiterated its bullish bet on Bitcoin and Ethereum, saying they would reach $100,000 and $4,000, respectively, before the year ends.

Meanwhile, JPMorgan revealed two factors that might affect how crypto prices will perform between July and December 2026.

SpaceX IPO Frenzy Triggers Refunds Across Crypto Platforms

The SpaceX IPO happened on June 12, and the company managed to raise its desired $75 billion by allocating 555.6 million shares.

30% of these shares were reserved for retail, and crypto market traders also rushed to get a share of this allocation through Kraken’s tokenized equities platform known as xStocks.

But demand for the SpaceX shares was so high that Kraken and xStocks only got a fraction of what they had requested, with users getting 4.2786 tokenized shares regardless of the amount they had put forward to invest.

Kraken ended up refunding users the remaining funds.

Binance, Bitget, and Bybit had also bid for allocations through xStocks, but they did not get any shares. CoinGape reported that Bybit will refund 100% of subscription funds.

Binance founder Changpeng Zhao also announced a refund for users after the exchange failed to get any shares during the SpaceX IPO and could therefore not launch its SpaceX tokenized stocks that had already seen $557 million in subscriptions.

Standard Chartered Reiterates Bullish Bets on Bitcoin and Ethereum

Standard Chartered has revived its bullish bets on the crypto market, saying that the crypto winter is over and Bitcoin and Ethereum are on the verge of making strong gains.

An analyst known as Geoffrey Kendrick from Standard Chartered noted that Bitcoin price will reach $100,000 before 2026 ends, and Ethereum will reach $4,000.

Kendrick defends this bullish thesis, saying that when Bitcoin dropped to $59,000 on June 5, it created a cycle bottom and marked the end of the “crypto winter.”

The Standard Chartered analyst also said that there is no more pressure around the SpaceX IPO draining liquidity after the company went live on NASDAQ on June 12, and retail traders and institutions are back to looking for where they will put their money.

SoSoValue data confirms that institutional buying is back because there were $85 million inflows to the spot Bitcoin ETFs on June 12, and that is the highest level of inflows that it has seen since May 15.

None of the 13 Bitcoin ETFs recorded any outflows on June 12, with BlackRock and Fidelity recording the highest flows of $57 million and $18 million.

JPMorgan Forecasts Crypto Market Outlook For H2 2026

JPMorgan earlier this week shared forecasts around the performance of the crypto market during the second half of 2026, saying that how the prices move will depend on two factors: the CLARITY Act and Michael Saylor’s Strategy.

The analysts at the banking behemoth said that Strategy selling Bitcoin again this year, after the recent sale of 32 BTC in May 2026, is going to dent investor confidence in Bitcoin.

They noted that it is likely that Strategy is going to sell more Bitcoin this year because the company has around six months of dollar reserves to pay dividends on STRC.

JPMorgan also says that the CLARITY Act is going to determine how the crypto market will move between July and December 2026, further suggesting that the bill failing to pass might push the prices lower.

JPMorgan’s outlook comes when the odds of CLARITY passing before 2026 ends are at 48% on Kalshi, with the November mid-term elections being the main obstacle to this bill passing.