cryptobriefing.com
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.