Bitcoin Drops 4.38% in Week, Polymarket Predicts 38% Chance of Falling Below $95,000 by June

Bitcoin's price experienced a significant drop on Sunday, falling below $100,000 for the first time since May 8. This sudden decline has sparked considerable speculation among traders and investors, who are now turning to Polymarket, a decentralized prediction platform, for insights into potential future price movements. According to the latest data from Polymarket, there is a 38% chance that Bitcoin will fall below $95,000 by the end of June. This prediction has led to a surge in betting activity on lower price targets, with the most significant shift in bets occurring at the $95,000 mark, which now has a 26% chance of being reached, followed by an 11% chance for $90,000.

This renewed interest in lower price targets comes as Bitcoin's value continues to fluctuate. At the time of writing, Bitcoin is trading near $102,000, down 4.38% over the past week. The cryptocurrency is currently trading below all key exponential moving averages (EMA 20/50/100/200), with its lowest point in the recent downtrend reaching $98,240. This volatility has been attributed to heightened geopolitical tensions, particularly between Israel and Iran, with the United States' involvement exacerbating the situation.

The recent price drops in Bitcoin and the broader crypto market have led to a shift in investor sentiment, with many now focusing on the potential for further declines. The increased betting activity on lower price targets on Polymarket reflects this change in sentiment, as traders seek to capitalize on the market's volatility. However, it is important to note that these predictions are based on current market conditions and may change as new information becomes available. Investors should exercise caution and conduct thorough research before making any investment decisions.