Too sharp! Analysts refute Bitcoin's decline due to IPO, pointing out the logic of overall market liquidity Industry analysts stated in an interview last night that the market narrative of "massive IPOs draining funds leading to a decline in Bitcoin" is fundamentally untenable. He pointed out that if this logic holds, then in order to provide liquidity for these IPOs, all highly liquid assets in the market should be sold, including various commodities such as gold and silver, rather than just explaining the decline of Bitcoin. The rule of funds is' one dollar can only be spent once '. He believes that there are currently no billions of dollars of idle funds waiting in line for these IPOs outside the market. If institutions want to enter the market and make new investments, they must sell their existing assets to raise cash, but even if they sell all the Bitcoin in the market, it is far from enough to fill the huge funding gap required for these IPOs.