According to @joshbrown, the current market environment is witnessing an aggressive surge in IPO activity, with speculative sectors leading gains and every market dip being quickly bought up. Chamath Palihapitiya is reportedly launching more SPACs, further fueling risk-on sentiment (source: @joshbrown, Twitter). For crypto traders, these conditions mirror the speculative frenzy seen in 2020-2021, suggesting heightened volatility and increased liquidity that could spill over into major cryptocurrencies like BTC and ETH.