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Bitcoin (BTC) is trading at $63,366.91 on June 12, down 0.31% on the day, as per TradingView data. The daily open, high, low, close (OHLC) reads: open $63,562.33, high $63,878.20, low $62,773.84, close $63,366.91. The price is holding above the dotted support band visible on the daily chart near $62,000-63,000, the same zone that arrested the June 5 decline to $60,000.
The session range of $1,104.36 is the tightest of the current decline, a market in consolidation on the most significant initial public offering (IPO) day in financial history.
At 9:30 am ET, SpaceX began trading on Nasdaq under the ticker SPCX, priced at $135 per share in a $75-billion raise at a $1.75-trillion valuation, the largest IPO in market history. The offering was four times oversubscribed, with roadshow demand reaching approximately $150 billion against the $75-billion target.
SpaceX’s S-1 filing with the US Securities and Exchange Commission (SEC) disclosed 18,712 BTC on its balance sheet, valued at $1.29 billion-$1.63 billion, placing it among the top 10 corporate Bitcoin holders globally. Every institutional allocator who bought SPCX today holds indirect Bitcoin exposure on their balance sheet, a structural adoption signal that plays out over a longer timeline than a single trading session.
Four crypto venues had live product referencing SPCX at the Nasdaq open simultaneously: Ondo’s SPCXon, Kraken’s xStocks SPCXx, and Backpack’s SPCX token on Solana, each a 1:1 tokenized equity representation, plus Hyperliquid’s pre-IPO perpetual, a synthetic instrument that had been pricing the underlying valuation for weeks.
The SpaceX listing is the first mega-cap IPO in which tokenized equity infrastructure and prediction markets operated at scale alongside the regulated venue, serving as a live, competing price-discovery mechanism rather than a fringe parallel.
The two-week capital rotation into SPCX allocations is now complete. Bitcoin exchange-traded fund (ETF) outflows exceeded $2 billion in May 2026, per SoSoValue data, across a 13-session consecutive outflow streak. That specific selling pressure clears mechanically once the deal prices and allocations are confirmed. The pre-IPO drain is already in the price at $63,366.
The June 16-17 Federal Open Market Committee (FOMC) meeting is Kevin Warsh’s first as Federal Reserve chair, sworn in on May 22. CME FedWatch prices a 98.2% probability of a hold at 3.50%-3.75%. The rate decision itself is not the risk. Warsh’s dot plot and press conference language are: Whether he signals a neutral bias, an extended hold, or any lean toward the hike that Cleveland Fed President Beth Hammack warned may be needed to bring inflation back to 2%.
May’s Producer Price Index (PPI) data, released on June 12 at 6.5% year-on-year — above consensus — has given hawks cover to stay restrictive. Goldman Sachs has pushed its expected rate cuts to 2027.
The Nasdaq-100 rebalancing in early July, expected to trigger $22-27 billion in forced mechanical buying for SPCX, creates the first window where post-IPO capital rotation back into Bitcoin becomes a credible scenario.
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