Bitcoin · Ethereum · Strategy · Decrypt
Traders Predict More Pain for Bitcoin and Ethereum After Monthly Drops Above 20%
Compiled by KHAO Editorial — aggregated from 2 sources. See llms.txt for citation guidance.
✓ KHAO Verified
Prediction market traders are becoming increasingly bearish on near-term price action for Bitcoin and Ethereum, expecting downwards momentum to carry them further downwards towards $55,000 and $1,500, respectively.
Key facts
- Shares in the firm have now fallen nearly 45% in the last month, while STRC—its preferred equity offering that is designed to trade around a par value at $100—is now down 22% in the last month
- As it stands, Bitcoin has fallen to $59,511, around a 1% drop in the last 24 hours and now 23% in the last month of trading
- The second-largest crypto asset has not been spared, with Ethereum sinking to $1,576—a drop of 2.6% in the last 24 hours, fueling a more than 25% plunge in the last 30 days
- Prediction market traders are becoming increasingly bearish on near-term price action for Bitcoin and Ethereum, expecting downwards momentum to carry them further downwards towards $55,000
Summary
Prediction market traders think Bitcoin and Ethereum are headed even lower as markets sell off. Traders now strongly favor dumps to $55,000 for BTC and $1,500 for ETH before any rebounds. The market's near-term fate may hinge on the performance of STRC, the preferred equity offering from Bitcoin behemoth, Strategy, according to one analyst. Traders on Myriad—a prediction market platform operated by Decrypt ’s parent company, Dastan—place odds of a Bitcoin dump to $55,000 before a rise to $80,000 at 77%, and odds of an Ethereum drop to $1,500 before a jump to $3,000 at 88% as markets sell off on Thursday.