FreedmanCrypto[互关版]

#Anthropic files prospectus: officially launches IPO Anthropic has just submitted its S-1 prospectus to the SEC, officially starting the IPO process. Honestly, the timing is quite delicate. Just one day before filing, Anthropic announced the completion of a $65 billion Series H funding round, with a post-money valuation of $965 billion, directly surpassing OpenAI's $852 billion, becoming the highest-valued private AI company globally. Annualized revenue surged from 10 billion at the end of last year to $47 billion. The data looks impressive, but the market reaction is very divided. On one hand, this is the largest IPO ever in the AI sector, and Claude’s commercialization speed is indeed astonishing — annualized revenue has increased 47-fold from 2023 to now. On the other hand, on the very day of the filing, the newly released Opus 4.8 was widely criticized online: its performance is inferior to GPT-5.5, yet it’s more expensive; after enabling thinking mode, each conversation generates 900,000 tokens (the previous generation only 14,000); when asked in Chinese who it is, it answered that it is Qianwen and DeepSeek. Investors buy future growth expectations, not past achievements. When your flagship product fails on the IPO day, the story becomes hard to tell. Interestingly, this IPO might accelerate the capitalization process of the entire AI sector. If Anthropic’s IPO succeeds, who will be next? OpenAI? xAI? For the crypto market, the AI+Crypto narrative has always been a hot sector. Tokens like $FET, $RNDR, and $TAO have recently been following AI sentiment. If Anthropic’s IPO goes smoothly, it could further boost the valuation logic of the entire AI sector. But the problem is also very real: a $965 billion valuation corresponds to $47 billion in annual revenue and still operating at a loss. This multiple is even crazier than the internet bubble back then. What do you think about Anthropic’s IPO? Is it a milestone of the AI era or the peak of a bubble?

In the middle of the afternoon meeting, my phone vibrated three times on the table, all price drop alerts from exchanges. After the meeting, I sneaked a glance—$ETH had slid from around 1900 in the morning down to 1871, hitting a new low again. $SOL isn’t doing any better, at $75, it’s been steadily dropping from over 80 last night, down nearly 6%. BTC is barely holding above 67000, but judging by the momentum, it might not hold until the close. Honestly, after today’s drop, the feeling has shifted from panic to numbness. The flash crash this morning was the scariest part; the afternoon feels more like a slow, dull cut, wearing down the nerves. An interesting question now is: where exactly can we catch this drop? ETH around 1850 is last year’s Q4 dense trading zone, and SOL at 72 was the starting point of the previous rebound. If these levels don’t hold, we might have to look for support even lower. But on the other hand, a drop also means opportunity. What the smart money is doing right now is what I really want to know. Are you panicking and running, or quietly placing orders? Let’s discuss in the comments 👇

I couldn't resist checking my account during lunch. $ETH is back to 1863, $SOL at 74 dollars, even $AVAX has dropped to just over 8. From 6:30 this morning until now, the drop has numbed me, and I don't really feel much anymore. The whole market is crashing today, the PPI data at 6% has pushed Fed hawkish expectations to the max, altcoins are falling even harder than BTC, and leveraged positions are being liquidated one after another. Honestly, by midday, my mindset shifted from "It's over, it's over" to "Whatever happens, happens." But I just came across a piece of news that stunned me—SpaceX has 1.45 billion USD worth of BTC on its books and is preparing to IPO with this stance. Musk's company is holding BTC as assets on its balance sheet and is directly using it to ring the opening bell. Retail investors are panic selling, while institutions are using BTC as their corporate treasury. The same market, two completely different ways of living. Are you the one selling at a loss now, or the one watching and waiting?

I glanced at my account during lunch and almost spat out my food. $SOL dropped more than 9% intraday, $ETH fell below 1840, and $PEPE nearly dropped 9%. The entire market is crashing, no one is escaping. But did you notice an unusual signal—$BTC only dropped less than 1%, still holding around 66500. This is the most worth discussing today. When the market panics, funds have only one destination: the leader. Looking at on-chain data, BTC's market dominance is quietly rising, indicating smart money is moving from altcoins to the big coin. Retail investors think altcoins are cheap and try to bottom-fish, but big money has a completely different logic—they only hoard the safest assets during panic. CoinTelegraph had a straightforward article today: this correction wiped out $176 billion. The number sounds scary, but if you think carefully, if most of that $176 billion is altcoin positions, it's actually good news for BTC—the funds haven't left the market, they've just moved places. Personally, I prefer to define this phase as "altcoin clearing out, BTC accumulation." Short-term pain is inevitable, but if your altcoin positions have already dropped more than 30%, cutting losses now to chase BTC might not be the optimal choice. What really matters to watch is whether BTC can hold the 65000 level. If it holds, altcoins will eventually follow back; if it doesn't, that’s the real hell mode. Are you fully invested in altcoins now or have you surrendered and returned to BTC? Let's discuss in the comments 👇

It's almost lunchtime, I sneakily checked the market and almost scared away my lunch money. $PEPE dropped 8.59%, $BONK dropped 8.74%, $DOGE dropped 8.56%. These three leaders of the meme sector are all having a rough day. Even more painful is $TRUMP, at $1.976, barely holding above $2. Not long ago, someone in the group shouted "If TRUMP hits $5, I'll treat everyone," but judging by this situation, it looks like he'll be the one eating dirt first. To be blunt, meme coins are the most aggressive when they rise, and the harshest when they fall. BTC dropped about 6% today, while the meme sector plunged nearly 9%. When leveraged funds are liquidated, high-volatility coins are always the first to be sold off. Everyone understands this, but when you actually see the numbers in your account dropping, rationality just disappears. I've been thinking: this time, the combination of PPI exceeding expectations and the Fed's hawkish stance actually has limited impact on BTC; the real casualties are altcoins and meme coins. Big money does only one thing in panic—pull back to the safest assets. BTC down 6%, SOL down 8.5%, meme coins down 9%, this descending pattern says it all. Will you still check the market during lunch? Or just delete the app and avoid seeing it? 😄

Just got to the break room and made a cup of Americano, the first push notification on my phone was Sanders and Warren jointly writing to the Labor Department, demanding the withdrawal of the Bitcoin 401(k) retirement plan rule. Bitcoin was already crashing badly today, at $66,700, nearly a 6% drop in 24 hours, and now these two heavyweight Democratic senators are rubbing salt in the wound. Honestly, the timing is very delicate. The PPI data just exploded to 6%, the market was already expecting the Fed to stay hawkish, and now there's a negative regulatory signal. Strategy (formerly MicroStrategy) stock price got hammered along with it today, institutional BTC faith is being repeatedly tested by reality. Interestingly, on the SpaceX side, IPO news just broke, and they hold $1.45 billion worth of Bitcoin. On one side institutions are accumulating, on the other politicians are obstructing, this sense of division is becoming more obvious. I don't think BTC allocation in retirement funds will happen in the short term, but Sanders and Warren launching an attack at this market crash moment shows political motives far outweigh the policy itself. With midterm elections approaching, cryptocurrency has become a bargaining chip for both parties. Retail investors fear this kind of squeeze the most—negative data stacked with regulatory bad news, confidence falling faster than price. Are you buying the dip amid the panic now, or waiting to see how this wave of sentiment plays out?

Wednesday morning, my social circle was flooded with posts about the crash, with many people sharing screenshots titled "Crypto has collapsed." Checking the market, $BTC is at 67,036, down 5.83% in 24 hours, with an intraday low of 66,194; $ETH is at 1,869, down 6.12%. Last night’s PPI data exceeded expectations, and once the Fed signaled a hawkish stance, risk assets were crushed across the board. But looking closely at the data reveals an interesting phenomenon: BTC dropped 5.8%, DOGE fell 7%, SOL dropped 6.9%, and SUI fell 5.7%. Altcoins generally fell harder than BTC. What does this indicate? Funds are moving from high-volatility altcoins to BTC, a classic risk-off rotation. Every major correction plays out like this: BTC holds up first, while altcoins get dumped more severely. Today, DOGE and SOL are the hardest hit. However, BTC rebounded from the low of 66,194 back up to 67,036, indicating support around the 66K level. Whether this level holds will directly determine if the market sees a technical rebound or continues to probe lower. This kind of market really tests one’s mindset. Some in the group say it’s time to bottom-fish, others say it will drop further. I lean towards waiting and watching; PPI exceeding expectations doesn’t mean the Fed will act immediately, and the market needs time to digest the panic. The real signal will be whether BTC can hold above 67K. If it can’t, altcoins might face a second wave of declines. How much have your altcoins dropped today? Report in the comments and let’s see who’s the worst off 😄 #Strategy披露上周出售32枚比特币 #CFTC历史性批准BTC永续合约

On Wednesday morning, as I sat down at my desk and opened the market quotes, I almost spilled the coffee I had just brewed. The midnight crash from yesterday hadn’t even been digested yet, and another wave of accelerated sell-off hit in the early hours today. $ETH fell below 1900 to 1862, $SOL was even worse, crashing straight down from above 80 to 74.68, dropping nearly 8% in 24 hours. $DOGE dropped 7.67%, $XRP fell 5.59%, and even $TRUMP is struggling to hold above 2. This isn’t just one coin falling; the entire market is being indiscriminately sold off. I checked the reason: PPI data exceeded expectations, and inflation rose again in May. The market’s original bet on the Fed cutting rates in the second half of the year has basically fallen through. The newly appointed Fed Chair, Waller, is very hawkish, prioritizing inflation and keeping rates high. For high-risk assets like crypto, this is a double blow—liquidity expectations are shattered, and funding costs rise, hitting the market with two negative factors at once. An interesting detail: $BTC dropped about 7%, but $SOL fell 8%. The coins that surged the most earlier are now correcting the hardest. This shows leveraged funds are being liquidated en masse, and profit-taking is faster than anyone else. SOL had more than doubled from its low point before; now it’s just paying off debt. The biggest question now is the upcoming CPI data this week. If inflation continues to exceed expectations, the market may still head lower; but if the data eases, it could become a catalyst for a short-term rebound. The premise is that you have the ammo and the mindset to hold on. When you open the market on Wednesday morning at work, is your first reaction to lie low and play dead, or do you think you can take advantage of the dip to pick up some cheap chips?

At 7:30 Wednesday morning, I habitually opened the market on the subway and was immediately shocked. BTC crashed overnight from 71,500 to around 66,200, a drop of nearly 7%. ETH was even worse, breaking through the 1900 mark directly, now hanging around 1845, SOL fell 10% back to 73, a full-scale bloodbath. Here's what happened: Democratic Senators Sanders and Warren jointly pressured the Labor Department to revoke the Bitcoin 401(k) retirement plan. The policy suddenly tightened, combined with already fragile market sentiment, triggering a wave of panic selling. This drop can't be explained by technicals; it's a double whammy of sentiment and policy. Interestingly, against the backdrop of SpaceX's upcoming IPO, there is still $1.45 billion worth of BTC holdings on the books. Big institutions are being hit by policy but aren't reducing positions, retail investors are cutting losses, and smart money is accumulating? In the short term, BTC 66,000 is a key psychological level; if it doesn't hold here, the next support is at 64,500. But such a sharp drop is often a concentrated release of panic, and breaking below the previous low might actually bring a short-term rebound opportunity. SUI dropped nearly 10%, DOGE also fell over 9%, and altcoins are even more miserable. The characteristic of this round of sell-off is "indiscriminate"—no matter what you hold, you're losing. The biggest uncertainty now is not the price but the policy direction. If the 401(k) issue really advances, it will significantly impact BTC's mid-to-long-term narrative. But from another perspective, panic clearing actually concentrates chips more. What was your first reaction at today's open: to add to your position or to liquidate?

As usual before bed, I checked my account; ETH is already at $1,909, just one step away from 1900. The entire market is blood red, BTC at $67,389 dropped 5.2%, SOL $76, XRP $1.22, DOGE $0.095, all down 4-5% across the board. ETH this time fell from $2,009, directly breaking through 1910; the technical outlook is very bleak. If 1900 doesn't hold, the next support is around 1800. Today, ETF funds saw massive outflows, with both sentiment and capital deteriorating simultaneously. The strangest thing is $TRUMP; while the whole market plunged, it actually rose slightly by 0.2%, at $1.98. The market dropped 5 points but it didn’t move—either someone is deliberately supporting it, or retail investors are treating it as a safe haven. Be especially cautious with this kind of "counter-trend coin"—once the market stabilizes, it might be abandoned. Tonight, 1900 is a critical threshold. If ETH breaks it, short-term sentiment will further collapse. Are you still daring to hold overnight tonight?