Bitcoin Traders Expect More Pain Ahead After BTC Falls 50% From Peak
Bitcoin sentiment has turned negative as its price dropped below $63,000, now sitting more than 49% below its all-time high of $126,080 from early October. Prediction market users on Myriad assign a 71% probability that Bitcoin will fall to $55,000 before recovering to $84,000, with pessimism rising notably in the last day. Over the past month, Bitcoin has declined 28%. The wider market is reacting to a new 10% tariff imposed by the U.S. on all imports, despite a recent Supreme Court ruling against such trade policies. This sudden policy shift is expected to create volatility in crypto markets, according to industry executives. Meanwhile, gold continues to attract risk-averse investors, up 54% over six months, solidifying its role as a volatility hedge. Bitcoin’s price movements remain closely linked to broader risk sentiment, behaving similarly to high-growth tech stocks during market uncertainty.
