There’s blood on the streets and crypto gamblers on Polymarket are betting that Bitcoin is far from its bottom.
Forty-five percent of traders on the prediction market Polymarket believe that Bitcoin’s price will fall below $45,000 before September. This spiked at a 65% chance in early European trading hours on Monday amid a market meltdown. It’s worth pointing out, though, that there’s currently less than $300,000 worth of bets in that pool.
Bitcoin fell below $55,000 overnight amid macroeconomic uncertainty and geopolitical tensions rising. This sell off continued, now currently at $50,000 with over $1 billion of liquidations taking place in the past 24 hours.
For the sake of comparison, Polymarket bettors gave Bitcoin a 5% chance of dropping below $45,000 before September just a few days ago. Even yesterday, when the turmoil had already started to roil markets, odds stayed between 5% and 15%.
But it isn’t just Bitcoin that…
