Bitcoin is down 20%+ since October, its lowest since August, and analysts are split on why. Some blame investors raising cash for Anthropic’s 6x-oversubscribed IPO; others see a wider AI-trade unwind. Under 45% of active supply is in profit, a zone that has often marked correction lows. Tap for the full breakdown.Bitcoin Falls to $68,000 as Analysts Split on Whether Anthropic’s 6x-Oversubscribed IPO Is Draining CryptoBitcoin fell to around $68,000 overnight, its lowest since August, and was last near $67,240, extending a slide of more than 20% since early October. Anthropic’s IPO, which could raise up to $64.4B, is about six times oversubscribed, per Bloomberg. Xapo Bank CEO Seamus Rocca said order books opening pull money from liquid assets like bitcoin as investors scramble for allocations, and compared it to SpaceX’s IPO, which he said temporarily drained money from bitcoin. Risk Dimensions’ Mark Connors sees a wholesale deleveraging of the AI trade, citing gold’s decline. Hyperium Decimus’ Chris Sullivan sees no logical link between Nvidia’s troubles and bitcoin, pointing instead to shorts above their August peak, large IBIT outflows, extreme fear and the chance of a 50bp Fed hike within 30 days. Nvidia CEO Jensen Huang’s exit (shares fell as much as 14% on November 12) and Strategy’s MSCI removal at the November 30 close added pressure, though Schwab’s Jim Ferraioli said the timing of the sharpest drop, around 11 p.m. Eastern, suggests neither was the direct trigger. Strive CEO Matt Cole notes bitcoin fell 19% in the 50 days before SpaceX listed versus 18% before Anthropic; after SpaceX it bottomed 18 days later and was 28% higher by day 100. A repeat would put bitcoin near $90,000 by late February, though Strategy-related selling concerns also played a role then. Global Stock Funds Draw $98 Billion in a Week, Second-Largest Inflow Ever, as Investors Buy the DipGlobal equity funds took in a net $98B in the week to November 14, the second-largest weekly inflow on record and the fifth straight week of inflows, totaling about $350B. The four-week average rose to about $75B, a record; at the 2021 meme-stock peak it reached only about $45B. Global tech funds drew $2.6B in the week and $9.1B over three weeks despite the selloff. US spot bitcoin ETFs have swung to $1.56B in net outflows for 2026.Most Active Bitcoin Supply Now Held at a Loss as Share in Profit Drops Below 45%Less than 45% of bitcoin’s active supply is held at a profit, excluding coins unmoved for more than 10 years. Readings below 40% have often coincided with lows of market corrections, while readings near 100% have tended to raise reversal risk. Some investors use this as a contrarian signal. Bitcoin trades near $67,000, its lowest since August.Morgan Stanley’s Bitcoin ETF Adds 735 BTC This Week, Lifting Holdings to 11,625 BTC; Its Solana ETF Moves 24,452 SOLMSBT added about 735 BTC (about $52.87M) this week, per Arkham, bringing holdings to 11,625 BTC, worth about $784M, while US spot bitcoin ETFs overall saw heavy outflows. It took in $20M on November 10 as other funds lost money. Separately, Morgan Stanley’s Solana ETF (MSOL) moved 24,452 SOL to an exchange address Saturday morning, possibly to sell.Nvidia Says No CEO Talks Underway as "Stand With Jensen" Petition Tops 77,900 SignaturesNvidia says it is still selecting a search firm and has “not formally engaged with any potential candidates,” calling speculation premature, per Bloomberg. This followed an FT report that the board approached Arm CEO Rene Haas; Arm fell nearly 10% Friday before paring losses. Nvidia cut ties with Huang on Thursday over a scandal involving extramarital affairs and reports he was targeted by a suspected Chinese spy. A petition to reinstate him has more than 77,900 signatures, over 41,900 self-identified shareholders and 5,200 current or former employees, alleging removal “without meaningful due process.” Elon Musk signed and is lead signatory; Marc Andreessen and Garry Tan are also listed. The site notes all identities are self-reported and unverified.

Global equity funds took in a net $98 billion in the week to November 14, the second-largest weekly inflow on record, according to fund flow data. It was the fifth straight week of inflows, bringing the total to about $350 billion.The four-week average of inflows rose to about $75 billion, a record high. At the peak of the 2021 meme-stock frenzy, the four-week average reached only about $45 billion.Technology funds also drew money despite the recent tech selloff. Global tech equity funds took in a net $2.6 billion during the week and $9.1 billion over the past three weeks.The flows into stocks contrast with crypto. US spot bitcoin ETFs have swung to $1.56 billion in net outflows for 2026, after heavy withdrawals over the past two weeks.

Asian Star, a Japan-listed company, will distribute BNB worth a total of ¥8 million to eligible shareholders and plans to tokenize Japanese real estate on BNB Chain, Binance founder Changpeng Zhao (CZ) said on X.CZ called it a first for Japan and a global first, saying it gives traditional companies and their shareholders more ways to take part in crypto. Despite the stormy market, he said, industry builders are still pushing projects forward.

Morgan Stanley’s spot bitcoin ETF (MSBT) added about 735 BTC this week, worth $52.87 million, during the market decline, according to Arkham. That brings the fund’s holdings to 11,625 BTC, worth about $784 million at current prices.Separately, Morgan Stanley’s spot Solana ETF (MSOL) moved 24,452 SOL to an exchange address on Saturday morning, possibly to sell, according to Arkham.The bitcoin inflows came during a week when US spot bitcoin ETFs as a group saw heavy outflows. Earlier this week, MSBT took in $20 million on November 10 even as other funds lost money.

According to Jin10, Italy's data protection authority fined Meta Platforms €805 million, alleging that the company used Android users' videos and photos without their consent.

An address with a recent SOL trading win rate of about 86% increased its SOL short position by about $2.15 million. According to Odaily, the weighted average execution price for closing SOL shorts during the period was about $75.13, while the weighted average opening price was about $75.29. The address is 0xf517639a8872e756ac98d3c65507d2ebc25cc032.

On November 13th, local time in the United States, Anthropic co-founder and CEO Dario Amodie and JPMorgan Chase CEO Jamie Dimon held an IPO-themed dialogue in New York.

Jensen Huang's sudden departure has left Nvidia's over $500 billion AI revolving financing machine, built on equity investments, guarantees, and buybacks, without a mastermind.

Golden Weekly is a weekly blockchain industry summary column launched by Golden Finance, covering key news, market and contract data, mining information, project updates, technological advancements, and other industry dynamics.

It's no secret that Jensen Huang and Anthropic's CEO are openly at odds over AI policy and chip exports. From heated debates in Washington to Huang's public rejection of a comprehensive export ban pushed by Ammoddi, the two have long made their stance clear.

When attackers begin targeting employee identities, internal permissions, and the supply chain, simply storing private keys is no longer sufficient to form a complete security defense.

Jensen Huang's sudden departure may just be the beginning of a concentrated outbreak of political risks at American tech giants.

Goldman Sachs' 2027 global equity strategy indicates that the AI ​​capital expenditure boom is nearing its peak, and global profit growth will slow significantly.

Should the founder who built a global AI chip empire over 33 years really leave?

Jensen Huang, Nvidia, ETH. Jensen Huang was also once an "Ethereum KOL." Jinse Finance: "Ethereum will become quite valuable."

Jinse Finance launches its daily cryptocurrency and blockchain news bulletin, "Jinse at 8 AM," issue 3242, providing you with the latest and fastest news on the digital currency and blockchain industry.