# Billions fleeing Bitcoin for hot new tech IPOs — ride the crypto crash down

_AI-generated trading idea · SHORT · BTC, COIN_

> Canonical page: https://commonquant.ai/research/for-you/billions-fleeing-bitcoin-for-hot-new-tech-ipos-ride-the-cryp--4d1ad7d9-539f-4fbe-b412-2613d1a5b62c

Bitcoin has plunged below $63,000, hitting its lowest point since February. A massive wave of selling is hitting the crypto market as large investment funds pull billions of dollars out of Bitcoin ETFs and traders rotate their money into hot new stock market IPOs instead.

## Idea

The momentum behind Bitcoin has completely broken down, with the price dropping 14% in just one week. Institutional money is actively fleeing, with massive daily outflows from Bitcoin funds as investors chase shiny new stock offerings like the upcoming SpaceX IPO instead. The selling pressure is so intense that it wiped out over a billion dollars in leveraged bets. With the trend pointing straight down and no signs of buyers stepping in, this crypto crash looks poised to push prices even lower.

## Key details

- Symbols: BTC, COIN
- Timeframes: H4
- Tags: \#crypto, \#trend\_continuation, \#macro

## Community

- Upvotes: 11
- Views: 0
- Copies: 0
- Cosigns: 0

## News sources

- [Bitcoin tanks below $63,000 for the first time since February as price selloff deepens](https://www.coindesk.com/markets/2026/06/04/bitcoin-selloff-continues-as-prices-slide-below-usd63-000-for-the-first-time-since-february) — CoinDesk
- [‘The rally that wasn’t’: Bitcoin slides 14% in one week as ETF outflows, Strategy sale and oil prices hit sentiment](https://www.theblock.co/post/403659/the-rally-that-wasnt-bitcoin-slides-14-in-one-week-as-etf-outflows-strategy-sale-and-oil-prices-hit-sentiment) — The Block

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