Polymarket odds for bitcoin breaking $100,000 by year's end surge to 57% following new all-time high
Quick Take As of 7:00 a.m. ET on Nov. 11, an individual share for “yes” on whether bitcoin would break $100,000 this year cost $0.32. The same share reached $0.57 by 2:35 p.m. ET, reflecting a 78% increase. Bitcoin reached a new peak price point of $85,000 around 1:30 p.m. ET on Nov. 11.
The Polymarket prediction market for whether bitcoin will break $100,000 this year surged after the token breached a new all-time high.
As of 7:00 a.m. ET on Nov. 11, an individual share for "yes" on that prediction market cost $0.32. The same share reached $0.57 by 2:35 p.m. ET on the same day, reflecting a 78% increase. Bets on whether bitcoin will break $100,000 in 2024 surpassed $2.6 million in total trading volume with 57% odds of it occurring.
Bitcoin increased 8.1% in the past 24 hours to trade at $86,512 as of 2:44 p.m. ET, breaking the $85,000 mark around 1:30 p.m. ET on Nov. 11. The cryptocurrency saw $88.4 billion in trading volume in the past day, but in the same time span saw $193.17 million in liquidations, according to the crypto liquidations tracker Coinglass.
Polymarket is a decentralized prediction platform spearheaded by its founder and CEO, Shayne Coplan . By Nov. 11, Polymarket had amassed $6.01 billion in cumulative volume, largely spurred by predictions based on the United States 2024 presidential election between candidates Donald Trump and Kamala Harris .
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
New spot margin trading pair — HOLO/USDT!
FUN drops by 32.34% within 24 hours as it faces a steep short-term downturn
- FUN plunged 32.34% in 24 hours to $0.008938, marking a 541.8% monthly loss amid prolonged bearish trends. - Technical breakdowns, elevated selling pressure, and forced liquidations highlight deteriorating market sentiment and risk-off behavior. - Analysts identify key support below $0.0080 as critical, with bearish momentum confirmed by RSI (<30) and MACD indicators. - A trend-following backtest strategy proposes short positions based on technical signals to capitalize on extended downward trajectories.
OPEN has dropped by 189.51% within 24 hours during a significant market pullback
- OPEN's price plummeted 189.51% in 24 hours to $0.8907, marking its largest intraday decline in history. - The token fell 3793.63% over 7 days, matching identical monthly and yearly declines, signaling severe bearish momentum. - Technical analysts cite broken support levels and lack of bullish catalysts as key drivers of the sustained sell-off. - Absence of stabilizing volume or reversal patterns leaves the market vulnerable to further downward pressure.
New spot margin trading pair — LINEA/USDT!
Trending news
MoreCrypto prices
More
