Analyst Ben Cowen suggests that the upcoming initial public offering of AI company Anthropic may divert investor focus away from Bitcoin. Cowen, founder of Into The Cryptoverse, draws a parallel to the period preceding the SpaceX listing in June, when Bitcoin experienced a pullback as capital rotated into artificial intelligence stocks.
Anthropic, the developer of the Claude chatbot, submitted confidential IPO documents in June. Reports indicate the company aims for a listing as early as this autumn, with some market estimates valuing the business near $2 trillion. Financial institutions are currently working with Anthropic and OpenAI to secure investment-grade credit ratings, signaling that Wall Street expects these offerings to occur soon.
Bitcoin recently traded near $76 966, reflecting a 1.73% decline over the previous 24 hours. While the asset reached levels near $83 000 following its August rally, it has faced difficulty maintaining a price above $80 000 in recent weeks. Cowen notes that his analysis includes a realized price warning at the $53 000 level.
The analyst argues that market momentum is limited and relies on speculative interest. If institutional and retail attention shifts toward AI-linked equities during the fall, Bitcoin could lose the momentum required to sustain its current price trajectory. The potential impact depends on the timing of the Anthropic listing relative to Bitcoin's upcoming market tests.
