Myriad Moves: Bitcoin Bearishness Grows as Gold Gets Closer to Beating Ethereum to $5K
The crypto market remains stuck within tight trading ranges, producing limited price movement for major assets. On Myriad, prediction markets signal declining optimism for a new Bitcoin all-time high before July, with predictors assigning only a 19% chance as Bitcoin fell below $90,000, down from a recent peak above $97,000. Investors have withdrawn $709 million from Bitcoin ETFs amid broader market uncertainty, and a 29% BTC price increase would be needed to set a new high. In the "gold versus Ethereum" race to $5,000, gold has surged to $4,938, giving it a 94% probability of reaching $5,000 before ETH, which is trading at $2,948 with only a 6% chance. For Zcash, sentiment shifted sharply, with 62% of predictors now expecting the price to drop to $250 (currently $364), following developer team changes and a recent rebound after initial losses; a move to $550 is considered unlikely in the near term. Overall, choppy conditions and caution dominate current crypto prediction markets.
