On-Chain Data Shows 66K BTC, 2.49M ETH Withdrawn from Exchanges on June 6 Despite SpaceX IPO

According to BlockBeats, on June 6, on-chain data indicates no large-scale capital outflow from the crypto market despite speculation that retail investors may have sold Bitcoin to participate in SpaceX's record $75 billion IPO. Stablecoin flows of USDT and USDC remained within normal ranges seen since February, showing no abnormal redemptions. Instead, Bitcoin and Ethereum recorded net outflows of approximately 66,470 BTC and 2.49 million ETH from exchanges, suggesting investors transferred assets to private wallets in a buying-dip pattern rather than selling.

U.S. spot Bitcoin ETFs have experienced consecutive net outflows for 13 trading days through June 3, with cumulative redemptions of approximately $4.4 billion, while spot Ethereum ETFs recorded 17 consecutive days of net outflows before recovering slight inflows. SpaceX is scheduled to complete pricing on June 11 and launch on Nasdaq under ticker SPCX on June 12.