Bitcoin extends weekly slide as Anthropic IPO draws investor focus
Bitcoin is heading for a sixth straight weekly decline as investors reassess risk across crypto and equity markets. The token is down 11% in November and 21% so far in 2026, with traders also weighing expectations of a Federal Reserve rate increase next month.
Highlights
- Anthropic aims to raise up to $64.4 billion from its IPO and $26 billion private placement, pursuing a $1.4 trillion valuation, with orders six times available shares.
- Nvidia commits about $10 billion to Anthropic’s private placement, while the AI firm’s annualized revenue run rate rose $10 billion in October to $81 billion.
- Bitcoin extends quarterly slump as investors reallocate liquidity in anticipation of Anthropic’s Nasdaq debut, Nvidia CEO Jensen Huang’s resignation, and potential Federal Reserve rate hike on Dec. 9.
Anthropic listing sharpens liquidity concerns
As reported by CoinDesk, citing Bloomberg, Anthropic’s anticipated IPO is one of next week’s biggest market events and has already attracted orders for roughly six times the shares available.The AI company aims to raise up to $64.4 billion alongside a $26 billion private placement, targeting a fully diluted valuation of about $1.4 trillion. Nvidia has committed around $10 billion to the private placement, while Anthropic’s annualized revenue run rate reached $81 billion at the end of October, up $10 billion in a month. The shares are expected to trade on Nasdaq under the ticker ANT.
The prospect of investors freeing up capital for one of the market’s largest listings offers one possible explanation for the weakness in bitcoin. The pattern is drawing comparisons with the period before SpaceX’s IPO, when bitcoin fell about 20% from roughly $75,000 to $60,000 between June 1 and June 5 before recovering toward $68,000 after trading began on June 12.
Crypto markets face broader macro pressure
Bitcoin’s current losing streak echoes the slide in the first quarter, when prices bottomed near $60,000. The record run of weekly declines remains nine weeks, set in 2022.Beyond IPO-related positioning, the sell-off is also unfolding against wider market pressure. Investors are reacting to Jensen Huang’s resignation as Nvidia chief executive and to rising expectations that the Federal Reserve will raise rates by 25 basis points at its Dec. 9 meeting.
Previously, we examined U.S. bitcoin ETF outflows as heavy withdrawals signaled weakening institutional demand and pressured sentiment.
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