Bitcoin Dip Ahead of Anthropic IPO Follows SpaceX Pre-Listing Pattern

On Tuesday, bitcoin (BTC) dropped under $73,000 for the first time since August 20, roughly a week ahead of Anthropic's anticipated Nasdaq listing. The decline mirrors the pattern seen before SpaceX's record IPO in June.

Certain traders contend that large stock offerings draw funds away from speculative assets such as bitcoin. However, in June, the cryptocurrency continued its decline following SpaceX's listing. Investors endured a two-month wait before seeing a sustained recovery.

What Extent Did Bitcoin Fall Before SpaceX's IPO?

Between its May peak and June trough, bitcoin shed nearly 29%. SpaceX began trading on June 12 following a fundraising that exceeded $85 billion.

On June 5, roughly a week before the listing, bitcoin reached around $59,000. Subsequently, it recorded a lower trough near $57,700 on July 1. The price remained under $67,000 until August 19.

In the current instance, bitcoin has fallen almost 17% from its September 21 high above $87,000. At the time of writing, it was trading at $72,891, a 2.7% drop over 24 hours.

“That’s TWO major IPO events coinciding with massive Bitcoin corrections,” noted Crypto Rover, a popular user on X.

Anthropic, the firm behind the Claude chatbot, established a pricing range of $70 to $78 per share. Trading is slated to commence on November 19. On Tuesday, the company reduced its IPO size to $64.4 billion.

How Could an AI Stock Sale Affect Bitcoin?

In a November 5 newsletter, BitMEX co-founder Arthur Hayes laid out the argument. He contended that fresh AI stock will soak up bank credit, the dollar liquidity he attributes to cryptocurrency gains. BeInCrypto covered his AI IPO dilution caution when bitcoin was around $80,000.

Hayes acknowledged that the banking data he referenced came from just one week. Similarly, two listings represent a small sample size.

Bitcoin's own market has also grown shallower. Average daily spot volume—coins purchased and sold directly on exchanges—dropped to 126,000 BTC in 2026, based on Coin Metrics data compiled by Unfolded.

That marks the lowest annual figure since 2016. It also stands 72% under the daily 453,000 BTC traded in 2022, and 16% below 2025's level.

A lower number of coins being traded may indicate that more supply is now held in exchange-traded funds (ETFs) and long-term wallets. That results in shallower markets, where substantial sell orders can drive prices more sharply.

U.S. inflation is adding to the pressure. Consumer prices climbed 0.4% in October, exceeding the predicted 0.3% increase. The Federal Reserve increased interest rates in September and is scheduled to meet again in December.

Economist Peter Schiff highlighted a more protracted decline.

“In its 18-year history, Bitcoin never fall two calendar years in a row. But it fell 6.34% last year, and so far in 2026 it’s down 16.5%.”

The initial trades of Anthropic, anticipated for November 19, will determine if the June pattern recurs, or if U.S. inflation has taken over as the driver of bitcoin's path.