Polymarket shows 50% odds of Bitcoin reaching $85K in November
Key Takeaways
- Bitcoin is trading at $89,000 amid broader weakness in crypto and equities, raising downside expectations.
- Polymarket users are pricing 50% odds of BTC hitting $85K this month, reflecting growing bearish sentiment.
Polymarket traders now give 50% odds that Bitcoin will drop to $85,000 in November, with BTC sliding to $89,000 today. The outlook comes amid renewed pressure across crypto markets and a broader downtrend in equities, pushing traders to brace for further downside.
The prediction market platform allows users to trade on real-world outcomes, offering a real-time snapshot of market sentiment. As Bitcoin continues to struggle under macro headwinds, traders are using Polymarket to hedge or express views on BTC’s near-term price action.
With risk assets broadly underperforming, markets are increasingly positioning for a potential retest of the $85K level in the coming weeks.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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