Foreign media reports that as the US stock market's AI sector and expectations for large IPOs have recently heated up, the Bitcoin market has weakened in tandem, raising the question of whether funds are shifting from crypto assets to tech stocks, a new topic of market interest.

Semiconductor ETFs attract significant funds.

The report cited data showing that in the first week of June 2026, four major semiconductor ETFs attracted a total of nearly $3 billion in inflows, bringing the year-to-date inflows to approximately $21 billion. In contrast, Bitcoin ETFs have seen significant outflows in the past month.

According to data from Farside Investors, BlackRock's Bitcoin ETF has seen outflows of nearly $2 billion since May 20. This contrasting flow of funds reinforces some market perceptions that AI stocks are diverting funds from Bitcoin.

IPO expectations for SpaceX and others are rising.

The report mentions that SpaceX is expected to proceed with its highly anticipated IPO later this month. Subsequently, Anthropic and OpenAI are also considered likely to enter the public market later this year.

Bitcoin prices recently retreated ahead of rising expectations for these large tech company IPOs. The article suggests this timing overlap may indicate that some investors are shifting funds from more volatile crypto assets to popular tech stocks in the public market.

Macroeconomic pressures continue to exert downward pressure.

However, the article also points out that this round of Bitcoin's decline may not be entirely driven by the strength of the AI sector. The broader macroeconomic environment continues to put pressure on risk assets.

Among these factors, US inflation data exceeded some market expectations, and employment data weakened market bets on interest rate cuts. Against the backdrop of ongoing geopolitical tensions, these factors could increase selling pressure on Bitcoin.