Bitcoin Falls for Sixth Straight Week on AI IPOs
Anthropic's expected IPO and Nvidia's multibillion-dollar backing are shifting investor attention, while rate expectations and risk appetite are adding more pressure on Bitcoin.
Key Takeaways
- Bitcoin appears to be heading for a sixth straight week of losses, after declines in November, in the fourth quarter, and since the start of 2026.
- Anthropic's expected IPO is drawing a lot of attention, with demand for about six times as many shares as are available and a diluted valuation of around $1.4 trillion.
- Investors are also watching Nvidia, rate expectations, and the Federal Reserve, factors that could affect risk appetite in the crypto market.
Bitcoin appears to be heading for a sixth straight week of losses. That puts the price under pressure again, after a drop of 11% in November, 17% in the fourth quarter, and 21% since the start of 2026. The move is reminiscent of earlier weak periods, including the first quarter, when Bitcoin traded around $60,000 (€54,300). Technical signals also remain weak: the weekly MACD is once again pointing to downward momentum and raises the odds of a test of $60,000 (€54,300).
Eyes on Anthropic
A big part of the attention is now going to Anthropic's expected IPO next week. According to Bloomberg, demand is for about six times as many shares as are available. The AI company wants to raise up to $64.4 billion (€58.3 billion), alongside a private placement of $26 billion (€23.5 billion), at a diluted valuation of about $1.4 trillion (€1.3 trillion).
Nvidia has committed about $10 billion (€9 billion) to that private placement. That makes the deal especially notable for investors who are already closely watching the AI sector. Anthropic expects annualized revenue of $81 billion (€73.3 billion) by the end of October, $10 billion (€9 billion) more than a month earlier, and the shares are set to trade on Nasdaq under the ticker ANT.
Parallels With SpaceX
Bitcoin's current weakness also brings back memories of the run-up to SpaceX's IPO. In June, Bitcoin fell about 20% in just a few days, from around $75,000 (€67,900) to $60,000 (€54,300), before the price recovered toward $68,000 (€61,500) after the IPO launch. That does not mean history is repeating itself, but it does show that big capital raises and market debuts sometimes line up with a weaker crypto market.
Beyond the IPO worries, other factors are also in play. Investors are factoring in Nvidia's recent board change and rising expectations for a 25 basis point rate hike by the Federal Reserve on December 9. Signals like these can further affect risk appetite in the crypto market.
Why This Matters for Crypto
For European crypto investors, this is especially relevant because Bitcoin still reacts strongly to broader market moves outside the crypto sector itself. Big AI listings, rate expectations, and changes at a heavyweight like Nvidia can temporarily shift attention and liquidity. That makes the current drop not just a Bitcoin story, but also a sign of how closely crypto and traditional markets are now tied together.