Polymarket bettors: ‘Bitcoin likely to crash below $45K than hit $100K’
Bitcoin's price volatility, currently trading around $67,620 after a recent peak of $75,000, has led to divided predictions in the market. Polymarket bettors assign a 52% chance that Bitcoin will drop below $45,000 this year, compared to a 43% probability of it surpassing $90,000. Approximately 75% of traders anticipate a fall below $55,000.
Elon Musk’s recent Bitcoin-related social media post did not significantly impact the price, unlike his typical influence on Dogecoin. The crypto community remains split: some analysts, using technical patterns like Head and Shoulders, predict a decline toward $48,000 or even $45,000, while others point to historical correlations with oil prices suggesting potential parabolic gains.
On-chain metrics reflect this uncertainty. The RSI is neutral at 50, indicating no clear bullish or bearish dominance. Key resistance lies at $70,917, while support is at $65,000; a break below could lead to further selling. Liquidity heatmaps suggest a potential drop toward $64,000, though shorter timeframes show support near $68,000. Declining active addresses and ambiguous social volume further highlight the lack of strong bullish momentum, leaving the market in a state of indecision.
ambcrypto03/31 09:20