Bitcoin fell to about USD 68,000, its lowest since August, down over 20% since early October. Investors may be selling to fund Anthropic’s IPO, while Nvidia worries and fund outflows add pressure. Some expect a rebound, as happened after SpaceX’s listing.
Bitcoin has dropped to about USD 68,000, its lowest price since August. It has lost more than 20% since early October. Investors are pulling money out of risky assets. Worries about Nvidia, talk of tighter money policy and the coming Anthropic IPO are all adding to the fall.
Anthropic IPO and Nvidia Add Pressure on Bitcoin
Anthropic plans to go public and may raise up to USD 64.4 billion. Demand is about six times the number of shares on offer. Seamus Rocca, CEO of Xapo Bank, says some investors may be selling Bitcoin to get cash for the deal. He pointed to SpaceX’s IPO earlier this year. Bitcoin fell then too, as money moved into stocks.
Nvidia is another worry as the company has had leadership changes and cybersecurity concerns. People are also asking whether tech stocks cost too much. Analysts say Nvidia’s troubles do not hurt Bitcoin directly. They say investors are cutting risk across all markets.
Other problems add to the pressure. More traders are betting against Bitcoin. Money is also leaving BlackRock’s iShares Bitcoin Trust, known as IBIT. And some fear Strategy may be dropped from MSCI global indexes. If that happens, funds that track those indexes may have to sell the company’s shares.
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Bitcoin Price Recovery: What History Suggests
But some speculators are convinced that it will happen. Matt Cole, who heads up Strive as its CEO, notes that Bitcoin decreased by 19% prior to the IPO of SpaceX. Following the IPO of Anthropic, the decrease is at 18%.
When SpaceX entered the market, Bitcoin went up by 28% in 100 days. It could happen again, but nobody guarantees this will take place.
What to Expect From the Bitcoin Market
The current focus, therefore, lies in three factors. These factors include the Anthropic IPO, flows of money in and out of funds, and the broader markets. These factors will determine whether Bitcoin continues its downward trend or begins to rebound.
Disclaimer : Crypto News India does not recommend that any cryptocurrency should be bought, sold, or held by you. Do conduct your own due diligence and consult your financial advisor before making any investment decisions.
