Bitcoin has fallen roughly 19% over the past 50 days ahead of Anthropic's Nasdaq debut, a decline resembling the one Bitcoin saw before the SpaceX listing in June. At press time, Bitcoin is trading at $65,450, according to TradingView. It dropped below $70,000 on Nov. 13 and slipped under $67,000 over the weekend.
Anthropic, the developer of the Claude AI models, is scheduled to begin trading on Nasdaq under the ticker ANT on Nov. 19. The AI company is offering 825 million shares priced between $70 and $78 each and aims to raise up to $64.4 billion in the IPO. At the top of the range, Anthropic would be valued at around $1.4 trillion, and the company has also arranged a $26 billion private placement.
SpaceX raised a record $75 billion in its IPO this summer, making the Anthropic listing comparable in size. Before the SpaceX IPO, Bitcoin's price also fell by roughly 19%.
Fundstrat managing partner Tom Lee described the current drawdown as a temporary rotation of money into mega-IPOs, as investors sell liquid assets to buy shares in the year's largest offerings.
Bitcoin rose 28% within 100 days after the SpaceX IPO
After SpaceX began trading on Nasdaq, Bitcoin's price kept falling for another 18 days. It then recovered, and 100 days after the IPO it was 28% above its close on the day of the listing.
If Bitcoin repeats this pattern after the Anthropic IPO, it could reach $90,000 by the end of February 2027, according to Strive CEO Matt Cole.
Interesting analysis
- CZ 🔶 BNB (@cz_binance) November 14, 2026
Binance founder Changpeng Zhao shared the comparison of the two charts on X and called Cole's numbers "an interesting analysis." Still, some users in the replies blamed the drop in Bitcoin on selling by Binance rather than on the IPO calendar.
