Traders on Polymarket are currently giving a 95.4% chance that Bitcoin will not breakout this month, with odds sitting at just 4.6%, down from 13.4% just a week ago. The odds of Bitcoin reaching $50,000 this month have decreased significantly, falling from 22% to 11.4%, according to data from Polymarket. A strong dollar and ongoing recession concerns are weighing heavily on sentiment for Bitcoin, with analysts at Polymarket attributing these factors as a major drag on market sentiment. Some traders expect that the US Treasury yield curve will flatten further in the coming months which could lead to a possible rebound in the cryptocurrency market.
Wikipedia / Stablecoin Polymarket Traders Expect Little Chances of a Bitcoin Breakout This Month
Polymarket traders expect little chance of a Bitcoin breakout in the month of February, with odds sitting at just 4.6% according to data, as a strong dollar and recession concerns weigh on sentiment.
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