[Cthulhu_]

If you look at purely their respective transaction logs, then probably not. However, you need an exchange to do the transfer. You could do this offline, sit with a guy who is willing to transfer the funds outside of one of the known exchanges - I don't know if there's anyone offering this yet, I can imagine in certain circles this does happen, but it requires a lot of trust.

A lot of the online exchanges are government-regulated nowadays though, and require photo ID for you to be able to do things. Mind you, it should be fairly trivial to forge or use stolen IDs. I think Coinbase asks for a second ID at one point, probably for larger transactions. But either way, those will have a transaction log, so they can see the path from wallet > fiat > bank account, and from there the banks, also regulated, can point to you (and they do / should check your ID with a bit more scrutiny).

TL;DR it's only untraceable if you can do the exchanges between cryptocurrencies and to fiat in real life with shady characters.

[dharma1]

>You could do this offline, sit with a guy who is willing to transfer the funds outside of one of the known exchanges - I don't know if there's anyone offering this yet,

Has been a thing for a few years now - https://localbitcoins.com/