Anthropic IPO Dates Set as Bitcoin's Slide Tops 20%

Bitcoin traded below $67,000 on Saturday, more than 20% below its late-September peak, as a technology-sector selloff and the countdown to Anthropic's stock-market debut pulled capital out of risk assets.

• The news: Bitcoin traded around $67,300 on Nov. 14, after slipping below $67,000, extending a decline that now runs more than 20% from its peak.
• The figure: Crypto traders lost $1.23 billion to forced liquidations over the 24 hours to Saturday, 82.7% of it on bets that prices would rise, per Coinglass data.
• What's next: Anthropic is expected to set its IPO price on Nov. 18 and begin Nasdaq trading under the ticker ANT on Nov. 19.

Longs Took the Hit

The $1.23 billion in liquidations over the previous 24 hours was nearly double the day before. Bets on higher prices made up $1.02 billion of it, as the total crypto market cap fell 5.75% to $2.33 trillion.

In all, 163,631 traders were liquidated, up from 112,947 the day before. The largest single order was a $17.81 million Ethereum short on Binance, closed at $1,979.21. Bitcoin traded as low as $66,491.67 over the 24 hours, its weakest level since August, testing its 200-week moving average.

Precious metals fell alongside crypto, a combination that points to broad portfolio deleveraging rather than selling confined to digital assets.

Anthropic's IPO Dates Are on the Record

Anthropic's own IPO page sets out the calendar. The roadshow began on Nov. 10; subject to regulatory clearance, the final share price is expected on Nov. 18 and public trading is expected on Nov. 19.

The company is offering shares of Class A common stock that will trade on Nasdaq under the ticker ANT. Anthropic describes itself as a public benefit corporation dedicated to securing AI's benefits and mitigating its risks.

Altcoins Fell Harder Than Bitcoin

Solana dropped 3.27% to $75.96 and BNB fell 2.02% to $621.31. Cardano lost 3.33% to trade at $0.1653, while Dogecoin slipped 1.91%. Among memecoins, TRUMP traded flat and Shiba Inu fell 1.17%.

Why Some Blame the AI Listing Pipeline

Market participants have tied part of the drop to capital rotating into Anthropic's offering. Xapo Bank CEO Seamus Rocca attributed part of Bitcoin's decline to that shift, drawing a comparison with the liquidity pressures around SpaceX's June IPO.

Strive CEO Matt Cole noted Bitcoin fell 19% before SpaceX's IPO, against roughly 18% ahead of Anthropic's planned listing.

Nic Puckrin, founder of Coin Bureau, said the crash "was kicked off by the Nvidia $NVDA scandal and the broader risk-off sentiment in tech stocks that's following as a result. But what started as downward price pressure has now snowballed."

Those are views, not settled causes. Two pressures that are easier to measure: crypto ETFs have lost roughly $1.57 billion to net withdrawals across five sessions, and concerns about Strategy's potential removal from MSCI indexes raise the prospect of forced selling by funds tracking those benchmarks.

What to Watch

Anthropic's pricing on Nov. 18 and its first trades on Nov. 19 are the next dated markers for crypto liquidity. Nvidia is scheduled to report fiscal third-quarter earnings on Nov. 17, and three House Republican committee chairs have asked CEO Jensen Huang for a private session with lawmakers on Nov. 18.

Huang resigned as CEO and left the board on Thursday after reports of two extramarital affairs, with CFO Colette Kress as interim CEO. That account rests on reporting rather than a primary Nvidia statement, so it should be read with care.