Guys!!! This morning it was still hovering around $68.2k, and now it’s taken another leg down—and this drop may be about more than just the aftershocks of last night’s PPI report!!!
CoinDesk picked up a new take yesterday (Nov. 13): Xapo Bank CEO Seamus Rocca said a big reason for this sell-off may be that Anthropic is about to go public, pulling money out of liquid assets like Bitcoin!!! The order book is already open, with orders reportedly around 6 times the shares available (according to Bloomberg). The company plans to raise up to about $64.4 billion, with another roughly $26 billion in private funding, putting its fully diluted valuation at around $1.4 trillion. Nvidia has also committed to putting about $10 billion into that private round. CoinDesk reported the shares are expected to trade on Nasdaq under the ticker ANT; Yahoo Finance says trading is set to start next Thursday (Nov. 19).
Rocca also compared it to SpaceX’s IPO earlier this year: back then, some people sold liquid assets first to free up cash and get in on the allocation, and Bitcoin took a hit too. His point was basically: when an IPO of this size comes along, Bitcoin is often one of the first things people sell to free up money, haha.
Just a heads-up: that’s his take, not a proven cause-and-effect!!! The same CoinDesk article also says some analysts think it looks more like a broader deleveraging across risk assets, with Nvidia, rate-hike expectations, and institutional redemptions all contributing. So don’t just chalk it all up to “the IPO draining money”～
But the market is genuinely moving lower right now: when I checked this morning, Binance futures’ 24-hour low was still around $67.4k; I just checked again and it’s already touched about $66.9k—below this morning’s low!!! CoinGecko has Bitcoin around $67.6k, still down about 3.8% over 24 hours. ETH is around $1,910, with Binance’s low touching about $1,875. BNB is around $625, SOL around $76. Total market cap is about $2.31 trillion, down roughly 6.3% in a day. The Fear & Greed Index is still at 13—extreme fear～
I just checked CoinGlass (data updated to around 10:50 a.m. Shanghai time today): Bitcoin futures alone saw about $713 million in liquidations over the past 24 hours, with longs accounting for roughly 91%, or about $653 million. U.S. stocks are closed for the weekend, but leverage is still getting washed out, haha.
Honestly, don’t take “PPI is out, so we should bounce” or “it went back up after the SpaceX IPO” as a sign that this dip is about to take off!!! The IPO hasn’t started trading yet, rate-hike expectations are still hanging around, and until real buyers come back, don’t chase a sudden pump too aggressively. Nvidia reports earnings next Tuesday, Anthropic lists next Thursday, and there’s still plenty going on this week～
What do you think—is this a big IPO pulling money out early, with things likely to catch their breath after trading begins, or could we dip even lower over the weekend?
$BTC $ETH
#币圈 #AI
CoinDesk picked up a new take yesterday (Nov. 13): Xapo Bank CEO Seamus Rocca said a big reason for this sell-off may be that Anthropic is about to go public, pulling money out of liquid assets like Bitcoin!!! The order book is already open, with orders reportedly around 6 times the shares available (according to Bloomberg). The company plans to raise up to about $64.4 billion, with another roughly $26 billion in private funding, putting its fully diluted valuation at around $1.4 trillion. Nvidia has also committed to putting about $10 billion into that private round. CoinDesk reported the shares are expected to trade on Nasdaq under the ticker ANT; Yahoo Finance says trading is set to start next Thursday (Nov. 19).
Rocca also compared it to SpaceX’s IPO earlier this year: back then, some people sold liquid assets first to free up cash and get in on the allocation, and Bitcoin took a hit too. His point was basically: when an IPO of this size comes along, Bitcoin is often one of the first things people sell to free up money, haha.
Just a heads-up: that’s his take, not a proven cause-and-effect!!! The same CoinDesk article also says some analysts think it looks more like a broader deleveraging across risk assets, with Nvidia, rate-hike expectations, and institutional redemptions all contributing. So don’t just chalk it all up to “the IPO draining money”～
But the market is genuinely moving lower right now: when I checked this morning, Binance futures’ 24-hour low was still around $67.4k; I just checked again and it’s already touched about $66.9k—below this morning’s low!!! CoinGecko has Bitcoin around $67.6k, still down about 3.8% over 24 hours. ETH is around $1,910, with Binance’s low touching about $1,875. BNB is around $625, SOL around $76. Total market cap is about $2.31 trillion, down roughly 6.3% in a day. The Fear & Greed Index is still at 13—extreme fear～
I just checked CoinGlass (data updated to around 10:50 a.m. Shanghai time today): Bitcoin futures alone saw about $713 million in liquidations over the past 24 hours, with longs accounting for roughly 91%, or about $653 million. U.S. stocks are closed for the weekend, but leverage is still getting washed out, haha.
Honestly, don’t take “PPI is out, so we should bounce” or “it went back up after the SpaceX IPO” as a sign that this dip is about to take off!!! The IPO hasn’t started trading yet, rate-hike expectations are still hanging around, and until real buyers come back, don’t chase a sudden pump too aggressively. Nvidia reports earnings next Tuesday, Anthropic lists next Thursday, and there’s still plenty going on this week～
What do you think—is this a big IPO pulling money out early, with things likely to catch their breath after trading begins, or could we dip even lower over the weekend?
$BTC $ETH
#币圈 #AI