Gambling members of the crypto community on the platform polymarket are betting on Bitcoin falling to $70,000.
On February 28, the price of BTC dropped to its lowest since November 2024 at $79,400. In addition, since February 21, when the dump began, Bitcoin fell by 20% and erased the lion's share of the gains of Trump's pump. Now many people predict a continuation of the bearish trend.
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Bitcoin fall
Amid the downward trend, users polymarket began to actively bet on the fact that in March Bitcoin will fall in price to $70,000. From February 24, the probability of this outcome increased seven times and reached 42%. A successful bet on this event will earn a profit of 138%, and a winning bet that the value of BTC will not fall to $70,000 will increase the capital by 69%.
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Bitcoin Price Probability Changes to $70,000
The current wave is seeing Bitcoin dip to new lows. I was looking forward to taking a chance this morning, but looking at the price action, I thought there was a big downside wave coming that would take us below $80,000, most likely over the weekend. Then there will be a lull for a while. Brace yourself, says the crypto exchange co-founder BitMEX Arthur Hayes February 28.
An analyst under the pseudonym Rage also predicts a continuation of the dump. According to him, the Bitcoin rate may well fall by 30-40% from the peak reached in January at around $109,000. That is, he allowed the BTC price to fall to $65,400.