Anthropic's IPO vs $BTC, in five numbers (CoinDesk, Nov 13):
• $64.4B: the most Anthropic aims to raise, with orders about 6x the shares on offer
• 6th: straight weekly BTC loss on track (record is nine weeks, 2022)
• -21% YTD, -11% in November for BTC
• -19% vs -18%: BTC's fall in the 50 days before SpaceX's IPO vs before Anthropic's (Strive's Matt Cole)
• Dec. 9: the Fed meeting where a 25 bp hike is being priced
"IPO cash is draining crypto" is a tidy story, but CoinDesk notes the SpaceX dip also overlapped Strategy-selling worries, and Coinbase Institutional blames Fed hike bets. I'd call IPO flow one factor, not the cause. Which one do you think is bigger? Not financial advice.
#Bitcoin #AnthropicIPO
Disclosure: Write to Earn may pay me a commission on cashtag trades.
• $64.4B: the most Anthropic aims to raise, with orders about 6x the shares on offer
• 6th: straight weekly BTC loss on track (record is nine weeks, 2022)
• -21% YTD, -11% in November for BTC
• -19% vs -18%: BTC's fall in the 50 days before SpaceX's IPO vs before Anthropic's (Strive's Matt Cole)
• Dec. 9: the Fed meeting where a 25 bp hike is being priced
"IPO cash is draining crypto" is a tidy story, but CoinDesk notes the SpaceX dip also overlapped Strategy-selling worries, and Coinbase Institutional blames Fed hike bets. I'd call IPO flow one factor, not the cause. Which one do you think is bigger? Not financial advice.
#Bitcoin #AnthropicIPO
Disclosure: Write to Earn may pay me a commission on cashtag trades.