**Bitcoin** is under pressure, slipping back near **$75,000** as capital rotates out of crypto and into **memory chip stocks** and upcoming **AI mega-IPOs**. The crypto market is settling into a state of apathy, with investors turning elsewhere for gains.

## The Shift in Capital

Memory chip stocks like **SK Hynix** and **Micron** are attracting significant attention, joining the trillion-dollar club. Meanwhile, the excitement around **AI** is drawing capital away from digital assets.

## Michael Burry’s Perspective

Famed investor **Michael Burry** highlighted that the upcoming IPOs of **SpaceX, Anthropic, and OpenAI** are set to raise as much or more than the **300 internet and TMT IPOs** did in 2000, adjusted for inflation. In 2000, there were 446 IPOs raising $108.15 billion; in 1999, 537 IPOs raised $95.33 billion. Today, **SpaceX alone** is expected to raise upwards of **$80 billion** in its public offering next month.

## What This Means for Bitcoin

As capital flows into AI and tech stocks, **Bitcoin** faces headwinds. The market sentiment is turning **bearish** in the short term, with investors seeking higher growth opportunities elsewhere. However, the long-term outlook for Bitcoin remains tied to its fundamentals and adoption.

Memory chip stocks are attracting capital and attention as crypto markets settle into apathy.

Bitcoin Slips Near $75K as Investors Flock to AI Mega-IPOs – What’s Next?

President Donald Trump has reaffirmed his commitment to the cryptocurrency industry and prediction markets, emphasizing the need for federal oversight to maintain U.S. leadership in these sectors.

## Trump's Stance on Prediction Markets

In a post on Truth Social, Trump stressed the importance of establishing the **Commodity Futures Trading Commission's (CFTC) exclusive authority** over prediction markets, stating, "It is critically important that the CFTC’s exclusive authority over Prediction Markets is maintained, and that they will thrive." He added that under his leadership, the U.S. is setting "rules of the road" that are the **Gold Standard** for the states.

## Crypto Capital of the World

Trump also vowed to protect the cryptocurrency industry, declaring that the U.S. is currently the **"Crypto (Bitcoin, etc.) Capital of the World"** but faces competition from other countries. He promised not to let that happen, signaling strong support for digital assets.

## Background and Controversy

Trump's comments follow a New York Times investigation revealing that the CFTC has advanced prediction markets while softening regulatory enforcement of digital currencies. Trump and his family have financial ties to both prediction markets and crypto ventures, including **World Liberty Financial**. His eldest son, Donald Trump Jr., has ties to major platforms like **Kalshi** and **Polymarket**.

## The Regulatory Debate

The future of prediction markets hinges on who has jurisdiction: the federal government or states. Trump and the CFTC argue for federal regulation, while some states, like Minnesota under Gov. Tim Walz, have moved to ban or regulate them as gambling. Trump called out Walz and New York Attorney General Letitia James, who sued crypto firms Coinbase and Gemini over their prediction market platforms.

This ongoing battle will shape the landscape for both prediction markets and cryptocurrencies in the U.S.

President Donald Trump stressed the importance of establishing the CFTC’s authority over prediction markets and vowed to protect the cryptocurrency industry.

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