Bitcoin (BTC) Back Above $73,000 After Dip Ahead of Anthropic IPO

Two IPOs, Two Corrections

The Bitcoin (BTC) price steadied near $73,280 on Tuesday after an earlier slide below $73,000, the coin's first visit under that level since August 20, and the drop came about a week before Anthropic is scheduled to begin trading on Nasdaq. The shape of the decline recalls June. SpaceX listed on June 12 after raising more than $85 billion, and Bitcoin (BTC) lost close to 29% between its May high and its June low: roughly $59,000 on June 5, a lower low near $57,700 on July 1, and prices that stayed under $67,000 until August 19. Holders who bought that bottom waited two months for a rebound that lasted, and in June the coin kept falling even after the listing itself, the part of the record that worries holders most. Some traders argue that giant share sales pull cash away from riskier assets such as Bitcoin, since fresh equity competes for the same pool of liquidity. This time the drawdown measures nearly 17% from the September 21 peak above $87,000, and the coin traded at $72,891 at 17:18 UTC, 2.7% lower across 24 hours. Crypto Rover, a widely followed account on X, noted in a post that “two major IPO events” have now coincided with heavy corrections in the coin. Anthropic, the company behind the Claude chatbot, set a $70–$78 per-share range and cut the offering to $64.4 billion on Tuesday, with first trades expected on November 19. The comparison has since run through our Bitcoin news coverage as traders weigh whether the June sequence repeats.

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Hayes' Credit Thesis Meets a Thinner Tape

BitMEX co-founder Arthur Hayes set out the mechanism in a newsletter dated November 5: new AI share sales, he argued, will absorb bank credit, the dollar supply he credits for past rallies, and he had warned of dilution from AI listings while Bitcoin (BTC) traded near $80,000. He also conceded the limits of his own case, noting that the bank data he cited was a single weekly reading and that two listings make a small sample. The coin's own market has grown thinner in parallel. Average daily spot trading volume has fallen to 126,000 BTC in 2026 through November 9, the lowest yearly level since 2016, 72% below the 453,000 BTC a day recorded in 2022 and 16% below 2025. Fewer coins changing hands points to more supply parked in exchange-traded funds and long-term wallets, which leaves thinner books where a single large sell order moves the price further. Macro conditions add their own weight: consumer prices rose 0.4% in October, above the 0.3% forecast, and the hot October CPI print already set off roughly $200 million in long liquidations within minutes earlier this month. The Federal Reserve raised rates in September and meets again in December, although some research desks still frame support before rate cuts as the base case into year-end. The coin enters the Anthropic window after a 4.94% weekly drop that took it near $74,000. Economist Peter Schiff pointed to a longer arc, writing that Bitcoin (BTC) has never declined in two consecutive calendar years across its 18-year history, yet fell 6.34% last year and is down 16.5% so far in 2026.

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Our composite scoring places the strongest support at $71,794, where indicators stack for an 83/100 reading, and the strongest resistance at $78,034, scored 94/100; spot traded at $73,280 at the time of writing, still inside a downtrend with the RSI near 33. Positioning leans one-sided. The long/short account ratio stands at 3.54, and funding on contract trading stays marginally positive at 0.0060%, a combination that leaves leveraged longs exposed if $71,794 gives way. Sentiment sits in fear territory at 32/100, which limits the FOMO bid that usually powers rebounds. What would change this reading is the debut itself: if Anthropic's first trades on November 19 clear without a fresh slide, a hold above $71,794 breaks the June sequence, while a close under it with funding still positive would extend the SpaceX parallel. Our Bitcoin technical analysis tracks both levels through the session.