Polymarket odds of Bitcoin under $55K at 72% as BTC market cap dives

Bitcoin’s market cap dropped to $1.31 trillion, slipping to 15th globally as prices dipped below $65,000, fueling rising bearish bets on Polymarket.

Bitcoin slid below $65,000 over the weekend before stabilizing on Monday as traders on prediction market Polymarket increased bets that the cryptocurrency’s pullback has further to run.

The odds of Bitcoin (BTC) falling below $55,000 climbed to 72% on Polymarket, with $1.2 million in volume on the platform.

Other bearish bets include price declines below $50,000 and $45,000, with odds of 61% and 47%, and trading volumes of $170,000 and $1.4 million, respectively.

Read more