AI Tech Stocks Draw Funds From Crypto as Bitcoin Hits Fresh Low

Cryptocurrencies, AI technology stocks and IPOs are all high-risk assets that often compete for the same pool of capital. When investors chase high-growth themes, funds can rotate between these markets. Elon Musk's SpaceX is expected to list on Nasdaq under the ticker "SPCX" in June 2026 at a valuation of nearly $1.8 trillion, while OpenAI and Anthropic are also reportedly preparing to go public, potentially crowding out demand for cryptocurrencies.

As of June 5, 2026, Bitcoin had plunged more than 13% in a week to below $63,000, while Ether hovered around $1,700. Both were closing in on 52-week lows and had roughly halved from their October 2025 peaks. SoSoValue data showed spot Bitcoin ETFs had recorded net outflows for 13 consecutive days. Strategy Inc. reduced its holdings by 32 bitcoins, while Citi analyst Alex Saunders said the CLARITY Act was unlikely to become a near-term catalyst.