Bitcoin (BTC) price target raised to $115,000 as Polymarket bettors anticipate even loftier price

Bitcoin has a 64% chance of reaching that target, which is a stunning leap from the 14% chance last week.

No sooner did Bitcoin (BTC) hit an all-time high on Wednesday than Polymarket bettors set their sights on an even loftier price target of $115,000 in the nine days remaining this month.

Bitcoin has a 64% chance of reaching that target, which is a stunning leap from the 14% chance last week.

What changed? Well, Bitcoin finally blew past the price mark after hovering around the $108,000 peak.

That’s an almost 50% recovery for Bitcoin from its dip to $74,500 in early April, which crypto influencer and angel investor Arthur Hayes called earlier this year.

Whatever happens, investors will rejoice in Bitcoin’s performance this week.

“Bitcoin reaching $110,000 is a significant milestone,” crypto analyst at eToro Australia Reece Hobson said on Thursday.

Hobson said multiple catalysts drove Bitcoin’s jump, including global liquidity growth and massive outsized inflows from exchange-traded funds.

Institutional investors have poured nearly $3 billion into spot Bitcoin ETFs in May.

Moreover, market analysts say investors are betting on Bitcoin as both a risk asset like technology stocks and a haven like gold, a dual narrative nature that gives the asset a “higher floor,” according to Campbell Harvey and Hui Hui Yong.

Bitcoin whales have also been snapping up the asset in the last two months, with investors plowing $122 billion into mopping up the cryptocurrency, market data shows.

This has supercharged a massive capital influx into the market.

“What we are probably seeing now is Bitcoin accumulation in preparation for increased market stress – from both risk asset investors, and longer-term, safe-haven investors, ” said crypto market analyst Noelle Acheson.

With the market already hitting record highs, the question now is twofold: how high can it go, and does the rally have legs?

“There’s a chance that we will see Bitcoin at $150,000 this year,” crypto payment company Ari10 CEO Mateusz Kara told DL News.

Kara said Bitcoin’s rise will be due to the Federal Reserve lowering interest rates after the dust from US President Donald Trump’s tariff kicks up and the dust settles.

Even before this week’s rally, market watchers had optimistic price projections for Bitcoin. Standard Chartered’s Geoff Kendrick predicts Bitcoin will reach $120,000 by the end of this quarter.

For Hobson, Bitcoin can go as high as $155,000 if the “bullish momentum persists,” but that would depend on strong volume and market conditions.

In the coming weeks, any rally in Bitcoin prices may lack the depth for sustainability as volumes in both spot and derivatives markets have thinned.

CEX.IO analyst Illia Otychenko said on Monday that volumes in spot and derivatives markets have declined by 29% and 36%, respectively, in the past month.

“The broader picture shows a market torn between momentum-driven optimism and some underlying structural weaknesses,” Otychenko said.

“This combination of bullish signals and warning signs suggests that the coming weeks may be defined less by gradual continuation and more by sharp, decisive moves.”