Bitcoin slid to its weakest level in several months last week as investors continued shifting funds toward equities and other high-profile opportunities, adding pressure to the digital asset market.
The leading crypto briefly dropped to about $65,385, marking a decline of roughly 2.3% and reaching its lowest point since February. The move came after U.S. stock benchmarks, including the Nasdaq 100 and S&P 500, closed Tuesday at fresh record highs. Markets in Asia also posted gains, with Japan’s Nikkei 225 advancing to a new all-time peak.
Market analysts say the decline reflects a broader reallocation of capital rather than a crypto-specific event. According to trading firm QCP, investors are increasingly directing money toward stock markets, which have delivered stronger performance in recent months. As a result, both traditional fund managers and cryptocurrency-focused traders are finding more attractive opportunities outside the digital asset sector.
QCP noted that some market participants may also be redirecting funds toward private investments and anticipated public listings. Among the most closely watched potential offerings are those involving Anthropic, SpaceX, and OpenAI, three companies that have generated significant investor interest.
The expected fundraising totals linked to these potential stock market debuts could surpass $200 billion, while their combined target valuations are estimated at approximately $3.6 trillion. Such figures would place the offerings among the largest and most expensive ever seen in financial markets.
SpaceX, the aerospace and satellite company founded by Elon Musk, is reportedly seeking a valuation of nearly $2 trillion. The company could pursue a market debut as early as June and is expected to seek as much as $80 billion from investors.
Meanwhile, OpenAI recently secured funding that valued the company at approximately $852 billion after the investment. Reports indicate the firm could pursue a public listing with a valuation ranging from $850 billion to $1.1 trillion.
Anthropic, creator of the Claude AI model, is said to be targeting a valuation near $900 billion. The company is widely expected to consider a market listing during the final months of 2026.
Analysts remain focused on key price levels for Bitcoin as selling pressure continues. Jonathan Krinsky, chief market technician at BTIG, said the crypto must maintain support near $65,000 to avoid a deeper decline. He described that area as the final significant support zone before a possible move toward this year’s lows near $60,000.
QCP outlined a similar outlook, identifying the $63,000 to $64,000 range as the first major support area. Should prices fall below that level, traders could turn their attention to $62,000, followed by the psychologically important $60,000 mark. If weakness persists, the next notable support zone would likely emerge near $58,000.
The price direction of BTC and other cryptos is likely to be keenly watched by companies like Circle Internet Group Inc. (NYSE: CRCL) over the coming weeks as any developments could set the tone for the rest of this year.
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