Bitcoin Traders See Nearly Even Odds for $69K Drop or $100K Recovery
For the first time in nearly two months, Myriad prediction market users give almost equal odds to Bitcoin either reaching $100,000 or dropping to $69,000 before rising, with a slight 51.6% favoring a rebound. Bitcoin traded at $82,927 after a 2% decline, impacted by market uncertainty following the U.S. Senate’s failure to advance a funding deal and fears of a government shutdown. Market sentiment turned highly negative, as the Crypto Fear & Greed Index dropped to 16—its lowest level this year. While equities like the Nasdaq quickly recovered after dips tied to disappointing corporate earnings, Bitcoin lagged behind, reflecting market weakness. Analysts warn that, despite some potential positive developments ahead, including the next Fed Chair nomination, Bitcoin may be exposed to further downside before any strong recovery.
