Bitcoin's latest selloff is highlighting a connection between crypto markets, institutional liquidity and the growing demand for capital in the artificial intelligence sector.
One development worth watching is Anthropic's planned IPO. According to Binance Research's November 10 report, the company's pre-IPO perpetual market price had declined approximately 28% since its filing, compared with a roughly 7% decline in Bitcoin over the same period.
This is an interesting divergence because the AI investment cycle is increasingly becoming a major focus for financial markets.
There are several developments adding pressure to crypto:
1. Anthropic's planned IPO
Reuters reported on November 13 that Anthropic's approximately $64 billion IPO had attracted strong institutional demand. Its order book was reportedly six times oversubscribed by Thursday. Some market participants believe investors may be moving capital out of liquid assets to pursue IPO allocations, although direct Bitcoin-to-IPO fund flows have not been established.
2. Bitcoin ETF outflows
Binance Research reported approximately $1.3 billion in net outflows from spot Bitcoin ETFs during the week covered by its November 10 report. This reflects weaker institutional demand during the market decline.
3. Heavy leveraged liquidations
Bloomberg reported, citing CoinGlass data, approximately $1.9 billion in crypto liquidations over the 24 hours through 7 AM Singapore time on November 15. Bitcoin accounted for approximately $684 million and Ethereum $466 million, with long positions representing the vast majority.
4. Broader AI and macroeconomic uncertainty
Binance Research also highlighted concerns around debt-funded AI infrastructure spending, technology-sector weakness and expectations of higher US interest rates. These developments can affect risk appetite across both traditional and crypto markets.
What does this mean for Bitcoin?
Binance BTCUSDT historical market data recorded an intraday low of approximately $62,006 on November 15.
I am watching whether buyers can defend this region and whether stronger spot demand returns. A recovery needs confirmation rather than simply relying on a decline in liquidation activity.
My takeaway is that this selloff deserves a broader explanation. ETF withdrawals, macroeconomic uncertainty, AI-sector capital requirements and leveraged liquidations are all important parts of the current market picture.
Anthropic's IPO may add another liquidity consideration, but it would be incorrect to claim that it alone caused Bitcoin's decline or that every liquidation represents a whale selling.
Do you think the Anthropic IPO could increase competition for investment capital, or are macroeconomic conditions and ETF outflows the bigger reasons behind Bitcoin's weakness? #CryptoSelloffTriggersMultipleWhaleLiquidations
