Anthropic IPO May Divert Bitcoin Rally Momentum, Analyst Says

Cryptocurrency analyst Ben Cowen has cautioned that the upcoming Anthropic initial public offering (IPO) may draw focus away from Bitcoin (BTC). According to him, the digital asset is already struggling to maintain its latest recovery.

The Into The Cryptoverse founder referenced Bitcoin's decline before SpaceX's June listing as a historical example. He contended that a comparable shift toward artificial intelligence (AI) equities might occur again.

Anthropic IPO Mirrors SpaceX Listing Strategy

The artificial intelligence firm Anthropic, creator of the Claude chatbot, submitted IPO documents confidentially in June. The company is said to be aiming for a listing possibly as soon as this autumn. Certain valuations place the firm at close to $2 trillion.

Cowen argued that Bitcoin experienced a comparable effect ahead of SpaceX's public debut. He stated that the cryptocurrency declined in the weeks prior to that IPO as investor attention moved to AI-related stocks.

“We now have the anthropic IPO coming up probably in a month or two.”

Cowen offered this remark in a video where he also counts Bitcoin's bullish and bearish indicators. That tally features his $53,000 realized price warning, a threshold he has previously highlighted.

Bitcoin Rally Shows Signs of Stalling

Bitcoin was trading around $76,966, a decline of 1.73% in the last day, based on BeInCrypto figures. Additionally, banks are urging Anthropic and OpenAI toward investment-grade credit ratings prior to their IPOs. This push indicates how imminent Wall Street considers the listings to be.

Bitcoin has climbed to roughly $83,000 since its August rally, yet it has had difficulty remaining above $80,000 in recent weeks.

Cowen's central argument is that momentum is limited. Should retail and institutional focus converge on AI offerings this autumn, Bitcoin might lose its upward drive. A prolonged rally generally requires that same speculative attention.

The occurrence of such a rotation could hinge on how near Anthropic's IPO falls relative to Bitcoin's next price challenge.