Matrixport warns: $132 billion IPO could impact Bitcoin price

Matrixport states that the crypto market is facing a large wave of IPOs, with a total value of up to $132 billion, and this could significantly affect the price of $BTC.

As Bitcoin surpasses $106,000, partly due to the influx of capital from large IPOs like Circle, the company has now achieved a valuation of $23.5 billion, far exceeding the initial expectation of $7.9 billion.

In addition to Circle, exchanges like Bullish ($13.5B), Gemini ($10.5B), and Kraken ($16.2B) are also preparing for IPOs in the coming months.

These IPOs could attract capital flows from traditional investors, indirectly supporting BTC prices.

However, caution is warranted regarding short-term fluctuations or the possibility of the market moving sideways in accumulation.

Notably, Circle's P/E ratio has reached 340 times, much higher than Coinbase's (42 times), raising concerns about overvaluation risks.