Bitcoin at $63.6K Risks Outflow as $3T AI IPO Wave Accelerates

Bitcoin is trading near $63,600 after sliding roughly 17% over two weeks amid mounting institutional rotation into upcoming mega-IPOs. The pressure stems from SpaceX’s planned June 12 Nasdaq debut targeting a $75 billion raise at a $1.75 trillion valuation, alongside OpenAI and Anthropic listings that could push combined valuations above $3 trillion. Analysts estimate up to $240–350 billion in capital could be redirected by year-end, prompting liquidations of crypto holdings including SpaceX’s disclosed 18,712 BTC treasury. While SBI Holdings CEO Yoshitaka Kitao views the move as a short-term liquidity shift rather than a structural threat, Bitcoin has fallen to four-month lows near $62,800.