Anthropic IPO Could Drain Attention From Bitcoin Rally, Warns Analyst Ben Cowen

Analyst Ben Cowen is warning that an upcoming IPO by AI company Anthropic could distract investors from Bitcoin's price rally. The Into The Cryptoverse founder pointed to a similar situation last year when SpaceX went public, causing a pullback in Bitcoin's price.

Cowen noted that before SpaceX's listing, the asset sold off as interest shifted towards AI-linked equities. He believes a similar dynamic could play out with Anthropic's IPO, which is reportedly targeting a listing window this fall and is estimated to be valued near $2 trillion.

Bitcoin has been struggling to stay above $80,000 in recent weeks, and Cowen argues that momentum is finite. If retail and institutional attention focuses on AI listings during the fall, Bitcoin could lose momentum and fail to sustain its rally.