Myriad Moves: How Low Will Bitcoin and Ethereum Go?
Bitcoin has dropped to a 15-month low, down more than 22% in the past week and nearly 48% off its October all-time high. The latest prediction markets give a 68% chance of further decline to $55,000, versus a 32% chance of a recovery to $84,000. Ethereum has also slid about 31% in the past week, recently trading at $1,919—over 60% below its August all-time high. Odds favor a further “dump” to $1,500 (71% probability) rather than a bounce to $3,000. Both assets lack clear near-term catalysts, though a potential rate cut at the March FOMC meeting could offer relief. Meanwhile, outflows from Ethereum ETFs have totaled $2.5 billion in the past month. In sports betting, the Seattle Seahawks are favored by 69% of predictors to win Super Bowl LX against the New England Patriots, slightly above traditional sportsbook odds. The game is scheduled to kick off Sunday at 6:30 p.m. ET.
