According to a November 15 report by PANews, Bitmine Chairman Tom Lee broke down this round of crypto selling pressure into six reasons. One was Anthropic’s IPO: investors sold crypto first to raise money to subscribe to the offering.
The other factors also point to money being pulled out: sharp declines in AI, semiconductors, and Nvidia triggered margin calls, mainly among Asian retail investors; and funds from a recent $6.3 billion hack have been returned to their holders, who are now converting their holdings into cash or stablecoins.
He also acknowledged that although several banks have announced plans to adopt crypto and blockchain—an indication of positive fundamentals—prices have yet to rise in response. Taken together, this downturn looks more like several pools of money being redirected elsewhere at once than a new problem with crypto. Whether these sources of capital return after Anthropic goes public is more worth watching than talk of a “supercycle.”
#加密市场 #抛压 #AnthropicIPO
The other factors also point to money being pulled out: sharp declines in AI, semiconductors, and Nvidia triggered margin calls, mainly among Asian retail investors; and funds from a recent $6.3 billion hack have been returned to their holders, who are now converting their holdings into cash or stablecoins.
He also acknowledged that although several banks have announced plans to adopt crypto and blockchain—an indication of positive fundamentals—prices have yet to rise in response. Taken together, this downturn looks more like several pools of money being redirected elsewhere at once than a new problem with crypto. Whether these sources of capital return after Anthropic goes public is more worth watching than talk of a “supercycle.”
#加密市场 #抛压 #AnthropicIPO