Cryptocurrency bettors are raising the possibility of Bitcoin (CRYPTO: BTC) diving below $50,000 this year as sentiment toward the leading digital asset continues to deteriorate.
Bookmakers Turn Bearish On BTC As of this writing, Polygon (CRYPTO: POL)-based Polymarket assigned a 53% chance of Bitcoin sliding below the key milestone, up from 44% the day before, and 28% last week.
Bearish expectations intensified overall, with the odds of Bitcoin falling below $45,000 rising to 38%, while the probability of a move below $55,000 jumping to 66%.
Nearly $40 million has been wagered on the outcome, making it one of the most keenly watched bets on Polymarket.
Add article title and URL Bitcoin Struggles After High-Profile Exits The jump in odds coincided with fresh turmoil in the Bitcoin market, with the leading cryptocurrency plunging below $65,000 for the first time in over two months.
