Bitcoin price is bleeding. The leading crypto has dropped to the $61,800–$64,000 range, shedding roughly 5–6% in 24 hours as capital rotates aggressively into equity markets ahead of what could be the most consequential SpaceX IPO.The question traders are asking isn’t just when BTC recovers, it’s whether this sell-off signals a deeper structural shift in where risk appetite is being deployed. Ethereum and XRP are following BTC lower, with mid-single-digit losses across the board as correlations hold tight.
NEW: Fidelity lowers the minimum account requirement for the SpaceX IPO from as high as $500,000 to just $2,000.— Polymarket (@Polymarket) June 4, 2026
Veteran investor Thomas Park pointed directly at the IPO pipeline as the culprit, arguing that traders are “moving funds out of Bitcoin to position for high-profile IPOs”, calling them “the market’s upcoming hot ball of money trades” and suggesting BTC is “paling in comparison.” is one project capturing that rotation interest. Positioned as the first-ever Bitcoin Layer 2 with Solana Virtual Machine (SVM) integration, it targets the three core limitations that have historically constrained Bitcoin’s utility: slow transactions, high fees, and the absence of programmable smart contracts. The pitch is direct, bring Solana-grade speed and contract execution to Bitcoin’s security layer, without abandoning Bitcoin’s underlying trust model. The presale has raised $32,804,971.85 at a current price of $0.0136811, with staking available for early participants. The project has drawn particular attention during this BTC dip cycle, as traders seek asymmetric positioning within the Bitcoin ecosystem.Research Bitcoin Hyper.Discover: The Best Token PresalesThe post SpaceX and Mega IPOs Fuel Crypto Sell-off: Is Retail Moving Away From Bitcoin? appeared first on Cryptonews.
