$BTC dipped to 66,456 on Binance this morning, lowest since August. And the thing everyone keeps pointing at is not even crypto.
Anthropic's IPO books reportedly got around 6x more orders than shares available, raise of up to $64.4 billion, trading as soon as next Thursday. Xapo Bank CEO Seamus Rocca told CoinDesk he thinks cash is getting pulled out of liquid stuff like bitcoin to chase allocations.
Before SpaceX listed in June, BTC went from over 80k to under 70k in the weeks ahead of it, per MarketWatch.
Analysts also mention IBIT outflows and shorts building up, so its not one single cause.
If it really is IPO money then that pressure has an end date, so for me the listing week is the one to watch.
Info from CoinDesk and MarketWatch.
Anthropic's IPO books reportedly got around 6x more orders than shares available, raise of up to $64.4 billion, trading as soon as next Thursday. Xapo Bank CEO Seamus Rocca told CoinDesk he thinks cash is getting pulled out of liquid stuff like bitcoin to chase allocations.
Before SpaceX listed in June, BTC went from over 80k to under 70k in the weeks ahead of it, per MarketWatch.
Analysts also mention IBIT outflows and shorts building up, so its not one single cause.
If it really is IPO money then that pressure has an end date, so for me the listing week is the one to watch.
Info from CoinDesk and MarketWatch.
