Bitcoin traded at $72,774.55 on November 12, near its 24-hour low, after failing to hold a push toward the $75,000 level. The largest cryptocurrency climbed as high as $74,694.84 before reversing lower, eventually settling near $72,740.65, according to CoinGecko data. Seven-day, 14-day and 30-day performance showed declines of 8.7%, 8.4% and 12.1% respectively.
Analyst Michaël van de Poppe described $75,000 and the 200-day moving average as crucial levels. He argued that the upcoming Anthropic initial public offering is drawing liquidity away from crypto markets, leaving Bitcoin seeking support at lower levels after failing to break above the threshold. CoinGlass data showed open interest across exchanges easing 0.8% from $51.6 billion to $51.2 billion, after briefly climbing above $54 billion. Bitcoin’s price line fell from roughly $78,000–$80,000 to around $73,000 during the period.
The Anthropic IPO has become a major focus for traders. Bloomberg reported that orders exceeded available shares several times, with large institutional orders driving demand and some investors reselling portions of their allocations at premiums. Anthropic is targeting a $1.4 trillion fully diluted valuation and aims to raise up to $90.4 billion through an IPO and private placement, led by Goldman Sachs and Morgan Stanley. Its Nasdaq debut is expected on November 19 under ticker ANT, with an indicative offering price of $70–$78 per share. Updated SEC filings show third-quarter 2026 revenue of almost $17 billion, roughly 12 times the same quarter a year earlier, after first-half 2026 revenue reached $16.3 billion.
PrimeXBT said it is preparing to launch ANTHROPIC/USDT as a USDT-margined pre-IPO perpetual contract on its PXTrader 2.0 platform. The product would allow 24/7 long or short exposure to Anthropic’s market-implied valuation before the public listing, and is planned to transition into a standard perpetual contract linked to the listed stock once trading begins. If the IPO is cancelled, the contract would be delisted and positions may be closed or settled.
Arthur Hayes, CEO of Flop Labs, offered a different view, saying he had increased crypto exposure ahead of the listing while keeping positions small to medium. Meanwhile, SpaceX stock closed lower on November 11 after Elon Musk disputed claims that Anthropic planned to end its computing agreement with the company.
