coindesk.com
Bitcoin is on course for its sixth consecutive weekly decline, echoing the losing streak in Q1, when prices bottomed out near $60,000. The record is nine weeks, set in 2022. Bitcoin is now down 11% in November, 17% in the fourth quarter and 21% so far in 2026.
One of next week’s biggest market events is Anthropic’s anticipated IPO. The offering has attracted orders for roughly six times the shares available, Bloomberg reported. 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. Anthropic’s annualized revenue run rate reached $81 billion at the end of October, up $10 billion in a month, with shares expected to trade on Nasdaq under the ticker ANT.
The prospect of investors freeing up capital for one of the blockbuster listing offers one possible explanation for the sell-off in bitcoin. There are parallels with the run-up to SpaceX’s IPO. The company began trading on June 12. Earlier that month, bitcoin fell roughly 20%, from around $75,000 to $60,000 between June 1 and June 5, before rebounding toward $68,000 after the IPO launched.
Other headwinds on the plunge include Jensen Huang’s resignation as CEO of Nvidia and growing expectations of a 25-basis-point Federal Reserve rate increase at its Dec. 9 meeting.
