Today in crypto, a security incident at digital bank Revolut and the prospect of a record‑sized Anthropic IPO emerged as the top stories, with analysts warning the IPO could divert capital from Bitcoin even as market participants debate whether BTC has the momentum to sustain a new bull run.
Revolut data breach exposes sensitive customer information
Revolut confirmed a data breach after it complied with what turned out to be a fraudulent request appearing to come from a government agency via a legitimate email domain. The bank said a "sophisticated external impersonation fraud" led to the exposure of sensitive customer records, including passport copies, verification selfies and full Bitcoin transaction histories. Revolut described the number of affected customers as "limited" but did not provide specific figures or name the agency the request purported to represent. Researcher ZachXBT reported the incident appeared to target high‑net‑worth individuals and raised concerns about so‑called "wrench attacks," in which attackers use compromised personal data to coerce access to accounts.
Anthropic IPO developments and Nvidia interest
Artificial‑intelligence company Anthropic is reportedly preparing an initial public offering and is in discussions with Nvidia about a potential investment of up to $10 billion. The IPO could come within one to two months and is being eyed as possibly the largest in history, with Anthropic seeking to raise funds at a valuation of roughly $2 trillion. Analyst Ben Cowen cautioned that the IPO could draw attention and capital away from Bitcoin, comparing the dynamic to the BTC price decline that preceded SpaceX’s market debut in June.
Bitcoin technical levels: where does BTC need to close to be bullish?
CryptoQuant released a technical assessment outlining critical levels for Bitcoin. The report said BTC needs a close above the 365‑day moving average at $81,700 to confirm a new bull market. CryptoQuant highlighted a resistance zone between $77,100 and $80,200, noting long‑term holders sold up to 539,000 BTC over a 30‑day period within that band, creating excess supply that must be absorbed. Above the $81,700 threshold, CryptoQuant placed further resistance at $83,600 and $88,700. On the downside, it identified support around $70,000 and in a $62,000, $65,000 zone, while describing the overall outlook as "bullish" if supply is taken in.
Tom Lee remains optimistic on the next 12 months
Fundstrat co‑founder Tom Lee said he is "very bullish" on crypto for the next 12 months, arguing the four‑year cycle bottomed out last month after $19 billion in liquidations on October 10. Lee pointed to the potential for a sustained positive period for digital assets. At the time of the report, Bitcoin was trading near $77,315, about 39% below an all‑time high of $126,000, while Ethereum had risen 3.2% to $2,533. The report noted that Bitmine, the Ethereum treasury firm chaired by Lee, was sitting on roughly $5 billion in unrealized losses across holdings of 5.93 million ETH.
Market context and competing narratives
The day’s coverage underscores two competing forces for crypto markets. On one hand, large corporate fundraising events, illustrated by Anthropic’s prospective IPO and Nvidia’s reported interest, could attract capital and media attention away from crypto. On the other hand, analytics firms and long‑time market strategists offer differing technical and macro views on whether Bitcoin’s current levels will produce a sustained bull market. Prices were near $77,000 after BTC recently failed to sustain $80,000.
Taken together, the stories highlight ongoing vulnerabilities in custodial and verification procedures at financial firms, and the potential for large, non‑crypto financing events to influence crypto market flows. Analysts differ on timing and direction, leaving the near‑term path for Bitcoin dependent on whether supply is absorbed around the resistance bands and whether major external capital events capture investor focus.