DeFi Daily News
Saturday, August 2, 2025
Advertisement
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • Altcoins
    • DeFi-IRA
  • DeFi
    • NFT
    • Metaverse
    • Web 3
  • Finance
    • Business Finance
    • Personal Finance
  • Markets
    • Crypto Market
    • Stock Market
    • Analysis
  • Other News
    • World & US
    • Politics
    • Entertainment
    • Tech
    • Sports
    • Health
  • Videos
No Result
View All Result
DeFi Daily News
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • Altcoins
    • DeFi-IRA
  • DeFi
    • NFT
    • Metaverse
    • Web 3
  • Finance
    • Business Finance
    • Personal Finance
  • Markets
    • Crypto Market
    • Stock Market
    • Analysis
  • Other News
    • World & US
    • Politics
    • Entertainment
    • Tech
    • Sports
    • Health
  • Videos
No Result
View All Result
DeFi Daily News
No Result
View All Result
Home DeFi Web 3

Polymarket Bettors: Bitcoin Likely to Drop Below $45,000 Before September

Ryan Gladwin by Ryan Gladwin
August 5, 2024
in Web 3
0 0
0
Polymarket Bettors: Bitcoin Likely to Drop Below ,000 Before September
0
SHARES
10
VIEWS
Share on FacebookShare on TwitterShare on Telegram
Listen to this article


There’s blood on the streets and crypto gamblers on Polymarket are betting that Bitcoin is far from its bottom.

Forty-five percent of traders on the prediction market Polymarket believe that Bitcoin’s price will fall below $45,000 before September. This spiked at a 65% chance in early European trading hours on Monday amid a market meltdown. It’s worth pointing out, though, that there’s currently less than $300,000 worth of bets in that pool.

Bitcoin fell below $55,000 overnight amid macroeconomic uncertainty and geopolitical tensions rising. This sell off continued, now currently at $50,000 with over $1 billion of liquidations taking place in the past 24 hours.

For the sake of comparison, Polymarket bettors gave Bitcoin a 5% chance of dropping below $45,000 before September just a few days ago. Even yesterday, when the turmoil had already started to roil markets, odds stayed between 5% and 15%.

But it isn’t just Bitcoin that Polymarket traders are bearish on.

According to one pool, Ethereum has just a 3% chance of being above $3,000 on August 9, four days from the time of writing. When this pool was created on Aug 2, bettors gave Ethereum a 75% chance of being priced above $3,000.

This comes as Ethereum takes a similar tumble to Bitcoin, falling 22% on the day and 33% over the week. At the time of writing, the Ethereum price has settled at $2,210. Ethereum accounted for $368 million worth of the liquidations that took place in the crypto market, according to CoinGlass. The vast majority, about $313 million, were long positions.

In response to the market upset, Polymarket has created a Market Crash tab that sits next to the U.S. election tab.

The chances of an emergency interest rate cut being announced by the Federal Reserve has spiked to 50% amid this market meltdown—up from 23% just yesterday. This has also seen bettors place money on the Federal Open Markets Committee (FOMC) announcing an interest cut of over 50 basis points in its September meeting, jumping to a 65% chance from 9% at the beginning of the month.

It’s more often been the case that analysts use CME FedWatch as a measure of trader sentiment. The FedWatch tool primarily relies on price data for 30-day federal fund futures contracts. CME is currently showing investors think there’s a 91.5% that the Fed will target a rate of 475 to 500 basis points—a cut 50 basis points lower than the current rate. The most likely target one week ago was 500 to 525 with 88.2% probability according to the CME tool.

In much more illiquid pools, Polymarket traders have given the U.S. a 30% chance of having a recession this year and a 20% chance of bank failure by September. But, it is important to note, very small amounts of capital have been traded on these markets so these figures are likely to move.

Edited by Stacy Elliott.

Daily Debrief Newsletter

Start every day with the top news stories right now, plus original features, a podcast, videos and more.

For more trending news articles like this, check out DeFi Daily News.

### Conclusion:

In conclusion, the cryptocurrency market has experienced significant turmoil in recent days, with both Bitcoin and Ethereum facing downward pressure. Traders on platforms like Polymarket are increasingly bearish, with bets indicating a belief that these assets may still have further to fall.

The market reaction to macroeconomic uncertainty, geopolitical tensions, and other external factors has led to significant liquidations and price drops. Traders are closely watching key levels like $45,000 for Bitcoin and $3,000 for Ethereum as potential support or resistance zones.

Furthermore, the increased likelihood of emergency measures like an interest rate cut from the Federal Reserve underscores the evolving economic landscape. Traders and analysts alike are navigating a complex set of circumstances as they seek to predict future market movements.

As we move forward, it will be crucial to monitor these developments closely and stay informed about the latest news and analysis in the cryptocurrency space. Stay tuned for more updates and insights from DeFi Daily News to keep abreast of the rapidly changing market dynamics.



Source link

Tags: BettorsBitcoindroppolymarketSeptember
ShareTweetShare
Previous Post

3 drivers behind Monday’s market downturn

Next Post

Why global markets are plunging

Next Post
Why global markets are plunging

Why global markets are plunging

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Search

No Result
View All Result
  • Trending
  • Comments
  • Latest
rewrite this title 4 Secrets from Chefs for Better Cruise Dining – NerdWallet

rewrite this title 4 Secrets from Chefs for Better Cruise Dining – NerdWallet

November 15, 2024
The Future of Blockchain: An Inside Look at Cardano

The Future of Blockchain: An Inside Look at Cardano

July 18, 2024
rewrite this title Alaska Airlines Unveils a Few Details About New Premium Card – NerdWallet

rewrite this title Alaska Airlines Unveils a Few Details About New Premium Card – NerdWallet

December 10, 2024
How to Check if Your Gmail Account is Accessed from Another Location: Secure Your Email Now

How to Check if Your Gmail Account is Accessed from Another Location: Secure Your Email Now

July 27, 2024
rewrite this title and make it good for SEO 7 Strategies to Maximize NFT Airdrop Rewards

rewrite this title and make it good for SEO 7 Strategies to Maximize NFT Airdrop Rewards

January 15, 2025
Bitcoin Miners Selling Bitcoin to Stay Solvent Amid Volatility in Price – Decrypt

Bitcoin Miners Selling Bitcoin to Stay Solvent Amid Volatility in Price – Decrypt

August 13, 2024
rewrite this title Decentralized Duolingo? Examining the Learn-to-Earn Model of Open Campus (EDU)

rewrite this title Decentralized Duolingo? Examining the Learn-to-Earn Model of Open Campus (EDU)

August 2, 2025
rewrite this title with good SEO [LIVE] Massive Crypto Liquidations to Precede A Big Pump: Best Crypto To Buy Now – 99Bitcoins

rewrite this title with good SEO [LIVE] Massive Crypto Liquidations to Precede A Big Pump: Best Crypto To Buy Now – 99Bitcoins

August 2, 2025
rewrite this title and make it good for SEO8th Pay Commission Salary Projections: Are you Grade Pay 1800, 2800, 5400, or 8700 employee? How your salary, HRA, TA, NPS, CGHS amounts may be revised at 2.08, 2.57 and 2.86 fitment factors

rewrite this title and make it good for SEO8th Pay Commission Salary Projections: Are you Grade Pay 1800, 2800, 5400, or 8700 employee? How your salary, HRA, TA, NPS, CGHS amounts may be revised at 2.08, 2.57 and 2.86 fitment factors

August 2, 2025
rewrite this title Binance Cloud Mining Review 2025 – Is It Worth Investing?

rewrite this title Binance Cloud Mining Review 2025 – Is It Worth Investing?

August 2, 2025
rewrite this title Ethereum Activity Soars: Active Addresses Near 2-Year Highs

rewrite this title Ethereum Activity Soars: Active Addresses Near 2-Year Highs

August 2, 2025
rewrite this title Lollapalooza Sparks Outrage With Disappointing Decision

rewrite this title Lollapalooza Sparks Outrage With Disappointing Decision

August 2, 2025
DeFi Daily

Stay updated with DeFi Daily, your trusted source for the latest news, insights, and analysis in finance and cryptocurrency. Explore breaking news, expert analysis, market data, and educational resources to navigate the world of decentralized finance.

  • About Us
  • Blogs
  • DeFi-IRA | Learn More.
  • Advertise with Us
  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2024 Defi Daily.
Defi Daily is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Cryptocurrency
    • Bitcoin
    • Ethereum
    • Altcoins
    • DeFi-IRA
  • DeFi
    • NFT
    • Metaverse
    • Web 3
  • Finance
    • Business Finance
    • Personal Finance
  • Markets
    • Crypto Market
    • Stock Market
    • Analysis
  • Other News
    • World & US
    • Politics
    • Entertainment
    • Tech
    • Sports
    • Health
  • Videos

Copyright © 2024 Defi Daily.
Defi Daily is not responsible for the content of external sites.