Bitcoin and Ethereum are now far from their respective all-time highs, sliding further on Thursday as macro uncertainty washes over all markets.
Amid falling prices, more bullish predictors have ceded positions to bears as odds rise that the leading crypto assets are more likely to “dump” rather than “pump.”
Below, we’ll look at shifts in the top markets this week, which include the next stops for BTC and ETH, and whether or not another Fed rate cut is coming this year.
(Disclaimer: Myriad Markets is a product of Decrypt’s parent company, Dastan.)
Bitcoin’s next move: Pump to $115K or dump to $85K
Market Open: November 5
Market Close: Open until resolution
Volume: $90.2K
Link: See the latest odds on the "Bitcoin's next move: Pump to $115K or dump to $85K?" market on Myriad
Only a few weeks ago, Bitcoin had created a new all-time high above $126,000—but the largest cryptocurrency by market cap continued reeling on Thursday, sliding now more than 30% from that high mark to below $87,000 for the first time since April.
The dip comes amid rapidly declining hopes of a December rate cut, pulling down nearly all crypto assets and traditional indices at the same time.
As a result of further falling, predictors on Myriad have become further entrenched in their bearish beliefs, now giving Bitcoin a 80% chance of hitting $85,000 sooner than it can pump to $115,000.
