Michaël van de Poppe, founder of MN Trading and market analyst, shared his perspective on the current state of digital asset markets on X today, November 12, 2026. He observed that "#Bitcoin continues to trend down" and noted that the crucial $75,000 threshold he had previously identified "couldn't break, and therefore the downward trend continues, with markets seeking support lower." Van de Poppe then specifically claimed, "The upcoming Anthropic IPO is clearly taking liquidity away from the #Crypto markets." He highlighted the 200-Day Moving Average as a vital support level Bitcoin is currently holding.
Bitcoin has been under significant pressure, with the Crypto Fear & Greed Index currently registering 28, indicating "Fear" among investors. Recent Gokhshtein coverage highlights institutional unease, reporting that Bitcoin ETFs have seen $450 million in outflows, suggesting a faltering conviction. Furthermore, Bitcoin options pricing suggests a 31% tail risk of the asset falling below $70,000 by year-end. Pete Rizzo also reported Michael Saylor's view that an MSCI ruling does not matter for Bitcoin.
Van de Poppe's analysis implies that the anticipated Anthropic IPO is diverting investor capital from the digital asset sector to traditional equity markets. This shift in liquidity could constrain upward price movement for cryptocurrencies, particularly Bitcoin, until the IPO event passes or new capital inflows materialize. His perspective suggests that the market will continue to seek lower support levels if this liquidity drain persists, emphasizing the importance of the 200-Day Moving Average as a key indicator for market stability.
