Well with Bitcoin anyone can trace you with proper chain analysis tools. This chain analysis industry is getting bigger now a days.
I don't think they can trace IP address. But if you had for example a KYC'ed account on an exchange and you withdraw from it and as an example let's say authorities want to follow your BTC footprint then they can see on what address that BTC went - because all the transactions are linked in the block"chain". However if you ask a person to send BTC in an empty address nobody could theoretically know that is your address.
i think it is not the IP is what he pointing but the transactions only,OP's Question can be answered differently because that is a two way asking.
first the transaction in which really traceable and no one can hide from being look at.
second the IP address that i think very rare that can be track down by normal people not unless there are someone that uses tools that only Government usually use.
The bitcoin transaction is traceable only if it is from the exchange that needs a kyc or know your customer. If someone tries to track down that transaction, they will be able to know it since the doer of the transaction has given their information to the exchange. On the other hand, I think it is not possible to track down the doer of transaction if it doesnt have any kyc at all.
crypto transaction now are very open for public because it is happening mostly now that we have no really privacy and the word anonymous is seems not in effect here.