Bitcoin (BTC) Odds of Hitting $100,000 This Month Soar After Tuesday's Uptick

Cryptocurrency bookmakers sharply increased their odds of Bitcoin (BTC/USD) recovering the critical $100,000 milestone this month following Tuesday's uptick.

What Happened: The odds hit 83% overnight Tuesday before falling to 76% as of this writing on Polymarket, a decentralized prediction platform. The probability jumped by 16 percentage points in the last 24 hours.

The $100,000 target was the hot pick among bettors as Bitcoin was only 3% shy of the critical mark at the time of writing.

Punters predicted a 44% likelihood of BTC rising to $105,000 during the month, while the odds of a rise to $110,000 were only 21%.

Note that Polymarket, which operates on the Polygon (POL/USD) blockchain and allows users to place bets using cryptocurrencies, is not accessible to U.S. residents due to regulatory constraints.

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Why It Matters: The surge in bets follows a sharp spike in the cryptocurrency market overnight, which sent Bitcoin back above $97,000.

Investors reacted to news that Treasury Secretary Scott Bessent will meet Chinese officials for trade talks, stoking optimism amid macroeconomic uncertainty.

At the time of writing, BTC was exchanging hands at $96,666.47, up 2.42% in the last 24 hours, according to data from Benzinga Pro. The coin has gained 24.80% over the month.

See Also: Is It Time To Buy Bitcoin As It Falls From Crucial Level?