Yes it could, but it would have to be stuck wide open to loose coolant from just kicking the bike.
Did this happen after a rebuild reassembly? The head o-rings are new, are the grooves in the cyl and head surface in good shape? Not pinched on install? Remove the cap and look for bubbles, thats a classic sign of a compression leak into the system.
Less likely but possible is your base gasket, as it seals the coolant passage through the cylinder from crankcase pressure. It would also tend to draw coolant in when the case is under a partial vacuum. Open the crankcase drain bolt, if you see evidence of coolant that could be it.
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