Myriad Moves: Traders Bet on Zcash Rebound, But Aren't Buying Another Bitcoin All-Time High
Crypto markets saw an initial surge in early January, with Bitcoin topping $94,000 and Ethereum nearing $3,300, but both coins lost momentum and prices fell. On prediction platform Myriad, sentiment turned bearish: Bitcoin’s odds of surpassing its all-time high ($126,000) before July dropped to 21%, down 6.5% from the previous week. Ethereum predictors now give slightly higher odds (53%) to a drop to $2,500 before a rise to $4,000, reflecting bearish sentiment following its brief rally. Zcash, which had gained over 700% in the past year, faced volatility after the main developer team left to form a new company amid governance disputes. Despite this, 62% of predictors believe Zcash will rise to $550 (a 28% increase) before falling to $250. Overall, the market is cautious, awaiting potential impacts from the upcoming Federal Reserve (FOMC) meeting on January 27-28, which could influence further price movements.
