Anthropic IPO Could Steal Spotlight from Bitcoin Price Rally
Bitcoin's recent price rebound may be at risk of losing momentum due to a looming IPO from AI company Anthropic, warns analyst Ben Cowen. Anthropic confidentially filed its IPO paperwork in June and is reportedly targeting a listing window as early as this fall. The company values the asset near $2 trillion.
Cowen pointed out that Bitcoin's price pulled back ahead of SpaceX's June listing, with the asset selling off in the weeks before that listing as investor interest shifted toward AI-linked equities. He argued that a similar rotation could repeat with Anthropic's IPO.
BTC traded near $76,966 on Tuesday, down 1.73% over the past 24 hours, according to BeInCrypto data. Bitcoin has broken through to near $83,000 since its August Rally, but the asset has struggled to stay above the $80,000 in recent weeks.
Cowen's broader point is that momentum is finite and a sustained rally typically needs speculative interest. If retail and institutional attention concentrates on AI listings this fall, Bitcoin could lose momentum.