Bitcoin & Crypto Down 50% Amid IPO Mania

Bitcoin has dropped 50% from its October peak, down 37% year-over-year, with $1.2 trillion in market cap lost. Ethereum fell 64% from its August high, losing $364 billion. XRP dropped 68%, losing $138 billion. The crypto market cap index lost $2.08 trillion since October. SpaceX's IPO valuation is $1.77 trillion, 93 times its trailing revenue.