Bitcoin Mirrors Pre-SpaceX Drop Ahead of Anthropic IPO, History Points to $90,000 by February
Bitcoin has fallen approximately 19% in the 50 days leading up to Anthropic's Nasdaq debut, mirroring a similar drop before SpaceX's listing in June.
At press time, Bitcoin is trading at $65,450, having dropped below $70,000 on November 13 and falling further below $67,000 over the weekend. This decline follows a familiar pattern observed before major IPOs, particularly SpaceX's listing in June.
IPO Pattern
Anthropic, the developer of Claude AI models, is scheduled to begin trading on Nasdaq under the ticker ANT on November 19. The company is offering 825 million shares at $70 to $78 each, potentially raising up to $64.4 billion and reaching a valuation of approximately $1.4 trillion at the top of its range.
Fundstrat managing partner Tom Lee attributes the current drawdown to a temporary rotation of money into mega-IPOs, as investors sell liquid assets like Bitcoin to buy shares in the year's largest offerings. SpaceX raised a record $75 billion in its IPO this summer, making Anthropic's offering comparable in scale.
Historical Rebound
If Bitcoin repeats this pattern after the Anthropic IPO, it could reach $90,000 by the end of February 2027
After SpaceX's IPO, Bitcoin continued falling for another 18 days before reversing course. Following this pattern, Bitcoin went up 28% within 100 days after SpaceX's listing. If similar behavior occurs after the Anthropic IPO, Bitcoin could reach $90,000 by the end of February 2027, according to Strive CEO Matt Cole.
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