Altcoins jumped on Monday, with AI-linked tokens powering the biggest gains as Bitcoin steadied above $63,000. Worldcoin (WLD) climbed roughly 12% in 24 hours and has nearly doubled over the past 30 days. NEAR Protocol added about 7% on the day and is up nearly 40% across the month, while Bittensor (TAO) gained around 4%. The moves come as Bitcoin trades near $63,500, up about 2% on the day after hitting year-to-date lows close to $60,000. But the broader picture isn't as rosy — Bitcoin is still down roughly 11% on the week and 21% over the month, a drop some are calling a dead-cat bounce.
AI Tokens Lead the Rebound
The AI token space got a boost from sentiment around SpaceX's upcoming IPO. SpaceX acquired xAI in February 2026, folding Elon Musk's AI lab into the company. The IPO is set for June 11 (pricing) and June 12 (trading) on Nasdaq under the ticker SPCX, with shares priced at $135 each, valuing SpaceX at around $1.77 trillion. The company aims to raise up to $75 billion, making it the largest IPO on record. For crypto traders, the connection is straightforward: AI tokens benefit from the hype around Musk's AI ambitions.
Worldcoin's 12% daily climb puts it among the best-performing majors. NEAR's 7% gain and TAO's 4% rise are more modest but still notable in a market that's been punished lately. Analyst Michael van de Poppe argued on Monday that a range-bound Bitcoin allows altcoins to outperform. He pointed out his own altcoin portfolio barely moved while Bitcoin hit $61K, suggesting the real action is elsewhere.
Bitcoin's Bounce and the Dead-Cat Debate
Bitcoin's 2% uptick from its intraweek lows near $60,000 feels like relief, but traders are skeptical. The 11% weekly drawdown and 21% monthly decline are ugly numbers. Investor Arthur Hayes sold his NEAR tokens ahead of the SpaceX listing, taking profits. That move fits a pattern: money that was parked in crypto may be rotating toward the biggest IPO in history.
Van de Poppe's read is that Bitcoin's stagnation is actually good for altcoins — capital rotates into smaller names when BTC chops. But the dead-cat bounce question lingers. If Bitcoin fails to hold $63,000, the altcoin rally could evaporate fast.
Spacex IPO and the Institutional Shift
The real story this week isn't just altcoins — it's where institutional money is going. SpaceX, alongside other trillion-dollar listings, is drawing capital that previously flowed into crypto. The $75 billion raise is a monster number, and it's pulling from the same pool of risk-on liquidity that crypto relies on. Arthur Hayes' NEAR sale is a microcosm of that dynamic: take profits in crypto, get ready for the SpaceX allocation.
For altcoins, the question is whether their AI narrative can hold attention once the IPO hype fades. Worldcoin's 30-day doubling is impressive, but it's also the kind of move that invites profit-taking. NEAR's 40% monthly gain is more sustainable, but still tied to broader market mood.
What to Watch This Week
Bitcoin's weekly close on Sunday will be critical — another leg below $60k would confirm the dead-cat bounce narrative. Altcoins will need Bitcoin to at least stay flat to keep their momentum. Meanwhile, the SpaceX IPO pricing on Thursday and trading on Friday will be the biggest non-crypto event for crypto traders to watch. If the listing draws a record $75 billion, expect more selling pressure on everything from BTC to AI tokens.
