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Gate Research: SpaceX IPO Oversubscribed by More Than 3.5x, BTC Faces Pressure as It Tests Key Near-Term Support

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2026-06-10 07:31:29
Reading Time: 4m
Last Updated 2026-06-10 07:31:53
BTC traded higher before reversing lower over the past 24 hours, with downside momentum accelerating after news of the U.S.–Iran conflict materialized. ETH moved largely in tandem with BTC throughout the session. Demand for SpaceX's latest IPO reportedly exceeded $250 billion, implying an oversubscription of approximately 4x. Some investors may have sold crypto assets to participate in the offering, potentially contributing to the recent market correction. H surged 149%, while EVAA and TX gained 31% and 30%, respectively. The United States launched multiple rounds of military strikes against Iran, targeting air defense systems and radar facilities, leading to lower openings across Japanese and South Korean equity markets. Meanwhile, a U.S. House hearing on cryptocurrency taxation signaled further legislative progress, reinforcing policy-driven optimism for the compliant digital asset sector.
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