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?

Tossing and turning, unable to sleep, I might as well open the exchange again. The whole market is red, $BTC is hovering around 66,600, with an intraday low of 65,400. $ETH has dropped below 1860, and $SOL has fallen back to 74. The market is mostly green, but looking closer—$SUI is actually lit up at 0.835, up 2.5% intraday. Honestly, coins that can still strengthen against the trend in this market either have funds quietly accumulating or haven’t yet experienced their correction. Either way, it at least shows that not all funds are fleeing; some are still making selective moves. From today’s structure, the broad market is down but not extremely so, BTC is holding above 65,000, more like a digestion period after the PPI data release rather than panic selling. Funds are flowing out of mainstream coins, partially moving into small caps like SUI and XRP that have narrative support. The two things most feared in the late-night market: one is a sudden plunge before the US stock market opens, the other is being triggered by a single tweet. At this point, those holding positions are most conflicted—selling risks missing a rebound tomorrow, not selling risks continued decline. Are you holding positions or staying out tonight? Has any coin surprised you? #SUI #BTC #ETH

The SEC has finally included cryptocurrency in its strategic plan, from 2026 to 2030, in black and white. When I casually came across this news, BTC was hovering around 66,800, with a daily low dipping to 65,400, and the entire market was deep in the red. Honestly, this is a milestone-level signal. The SEC's previous attitude towards crypto was "Who are you? I don't know you," but now directly including it in a five-year strategy is equivalent to acknowledging that this industry is no longer a fringe player. However, at the same time, Senators Sanders and Warren jointly pressured the Department of Labor to withdraw the proposal to include BTC in 401(k) retirement plans. Opening one door while closing another. Market interpretations are also divided. Optimists believe the SEC's strategic plan equals long-term institutional benefits, and the legal barriers for institutional entry will gradually be removed. Pessimists see ongoing political resistance; BTC has had net outflows from ETFs for 12 consecutive days, and retail investors' confidence is already collapsing. My own view is, don't expect regulatory news to save the short term. BTC falling from 68,000 to 65,000 and then bouncing back to 66,800, this repeated friction in that range essentially means funds are waiting for direction, not policy pushing direction. What really needs attention is ETF fund flows—if the continuous outflows stop next week, that will be a turning signal. ETH is worse, down 4% to 1858, SOL down 4.1% to 74 dollars, altcoins bleeding across the board. In this market, controlling your impulses is more important than anything. Do you think the SEC's strategic plan is a real benefit or just an empty promise? Let's discuss in the comments👇 $BTC $ETH $SOL #SEC #CryptoRegulation

Lying in bed checking the market, $TRUMP has dropped to 1.995. The key $2 mark didn’t hold. This meme coin, which once surged to tens of dollars thanks to the Trump Winery dinner auction, can’t even stay above $2 now. Looking back at today’s market, everything is down across the board. BTC is hovering around 66800, ETH dropped 5.4% to 1870, and SOL also couldn’t hold up, falling 5.3%. But honestly, a 5% drop in these major coins is still within normal fluctuations. TRUMP has already been halved multiple times from its peak, and that’s what really hurts. That’s the logic of meme coins: when the hype is on, they rise unbelievably; when the hype fades, they fall unbearably. The dinner auction narrative once supported a rally, but after retail enthusiasm faded, all that’s left is a mess. I still hold a small position, not much, but every time I open it and see it shrink again, my heart skips a beat. It’s not about the money, but feeling that I got too carried away when I jumped in. But looking at the bigger picture, June seems to have been a bloodbath. ETF funds are flowing out continuously, institutions are reducing holdings, retail investors are cutting losses, and both large and small caps are falling together. At this stage, instead of obsessing over how much a coin has dropped, it’s better to consider whether it’s time to reduce your position. Are you still holding $TRUMP? Or did you run away long ago?

Lying in bed, I set my phone screen brightness to the lowest, yet I couldn't help but open the exchange app. As expected, it's all red again. $BTC is now at $67,270, down 3.15% in 24 hours, with an intraday low of 65,417. $ETH fell even harder, sliding from 1,982 last night to 1,884, a drop of nearly 5%. SOL also fell below 76. But what really feels off today isn't the drop itself, but the continuous outflow of money. The US spot BTC ETF has seen net outflows for 12 consecutive trading days, with a total withdrawal of $4.2 billion over three weeks. This isn't panic selling; institutions are systematically reducing their positions. There was $1.8 billion liquidated across the network in 24 hours, with longs getting harvested again. Since the May peak, BTC has retraced 16%. In the past, every sharp drop attracted bottom-fishers, but this time it's different—the ETF funds are leaving, indicating big money doesn't recognize this price level. Some analysts have started calling for 60K or even 50K. If this week's non-farm payroll data continues to exceed expectations and rate cut expectations are further delayed, this scenario is not impossible. My current strategy is simple: wait and see, and only reconsider once ETF outflows stabilize. What really matters to watch is not how much the price has dropped, but when the money stops flowing out. What positions are you holding now? Planning to tough it out until the Fed, or have you already pulled out early? $BTC $ETH $SOL

Just closed my computer and was about to leave, habitually took one last look at my phone. Ended up seeing two messages, one excited me, the other sent chills down my spine. First, the exciting one: SpaceX is going public, and the prospectus clearly shows $1.45 billion worth of Bitcoin on the balance sheet. Musk never plays by the rules; Tesla was criticized by Wall Street for buying BTC back then, and now SpaceX is going public with nearly $1.5 billion in BTC holdings. What does this mean? Traditional investors buying SpaceX stock will indirectly have BTC exposure. Institutional adoption isn’t just a slogan; it’s written right into the prospectus. The chilling one: Mt.Gox moved again, transferring 10,422 BTC in one go. This "old monster" that has been repaying debts since 2014 always shakes the market with any on-chain movement. Today BTC has dropped to $67,371, down 3.27% in 24 hours, ETH down 4.65% to $1,887, SOL down 4.87% to around $75. The market is all red, and with such a large transfer on top, it’s no wonder retail investors are panicking. On one side, SpaceX putting BTC in its prospectus is a milestone; on the other, Mt.Gox’s looming sell pressure hangs overhead. Bulls and bears are both showing their cards, the next few days will be intense. Do you think this drop is caused by fear of Mt.Gox, or is it a normal correction? Will BTC see a new wave of institutional funds after SpaceX goes public? $BTC $ETH $SOL

The phone vibrated once on the desk, and the exchange pushed a notification: BTC fell below 66,000. I froze at my desk for two seconds, then clicked to check. Bitcoin dropped from nearly 70,000 in the morning straight down to 65,417, a nearly 4% drop within a day. Not just BTC, $ETH slid from around 1980 to 1876, a drop close to 5%. $SOL was even worse, breaking below $75, down 5.2% in 24 hours. DOGE, PEPE, ADA all followed the decline, the whole market felt like it had been drained of blood. Looking at the daily chart structure, today's bearish candle for BTC completely wiped out the rebound from the past few days. If the 65,400 level doesn't hold, the next support zone to watch is between 62,000 and 63,000. Honestly, I was distracted all afternoon, even during meetings I kept thinking about my positions. Days like this with broad market declines are the easiest to get caught up emotionally—either panic selling or thinking it's cheap and wanting to bottom-fish, both impulses are not very rational. The biggest test in the market isn't whether you can hold during a rise, but whether you can control your actions during a fall. How are your positions today? Did you sell or hold on?

4:30 PM, after watching the market all day, my eyes are almost blurry. I opened my account to take a look, and the screen was full of green—no, actually full of red. BTC dropped 4.25% to around 67K, ETH fell 5.56% to 1,875, SOL dropped 5.87% to 75 dollars. The whole market is wailing, but what surprised me most was DOGE. $DOGE is now at 0.0938 dollars, down 5.51%, even worse than the overall market. This former meme king once surged to 0.73 in 2021. Even my friends who don’t trade crypto came asking how to buy it, shouting "DOGE to the moon." And now? It’s only a tenth of that peak. I wonder how many of those who once shouted for a one-dollar DOGE are still holding on. That’s how meme coins are: everyone celebrates wildly when they rise, but when they fall, they crash harder than anything else. Without fundamental support, they rely solely on sentiment and consensus to survive. Once the hype fades, no one swimming naked escapes. But on the flip side, this kind of drop is actually interesting. When everyone thinks an asset is going to zero, that’s often when it’s closest to the bottom. DOGE may lack a technical narrative, but its community cohesion remains, and Elon Musk popping up occasionally can still spark a rally. Is anyone still holding DOGE today? Drop a comment to check how many veterans are left 😄 #DOGE #CryptoMarket

I glanced at the market at 3 PM, and BTC directly fell below the 70,000 mark, now at 67,094 USD, down nearly 4% in 24 hours. It's not just BTC; ETH dropped 5.16% to 1,878, SOL fell 5.52% to around 75 USD, and BNB dropped even more by 5.76%. This is not an ordinary correction. In the past 24 hours, the entire network liquidations reached 766 million USD, with bulls being crushed. Even more alarming is the ETF data—US spot BTC ETFs have seen net outflows for 10 consecutive trading days, withdrawing nearly 3 billion USD in total, marking the longest continuous outflow since the ETF launched. Institutions are running, retail investors are holding on. BTC closed May with three consecutive monthly losses, which is rare historically. Some say it's due to renewed expectations of Fed rate hikes, others say it's profit-taking from ETFs, but regardless of the reason, money is definitely flowing out. The current position is awkward. Around 67,000 is a dense trading zone from last year, theoretically providing support, but if ETFs continue to outflow 300 million USD daily, no support level can hold. The key is this Friday's non-farm payroll data—if employment data exceeds expectations strongly, pushing back rate cut expectations, BTC may need to test lower levels. Personally, I prefer to wait and see, not rush to bottom-fish. What really matters is when ETF outflows stabilize, not how much the price has dropped. Panic is when mistakes are most easily made. Where do you think this wave will fall to? Can it hold around 60,000?

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?