Following Tuesday's uptick, cryptocurrency bookmakers sharply increased their odds of Bitcoin BTC/USD recovering the critical $100,000 milestone this month.
Cryptocurrency bookmakers sharply increased their odds of Bitcoin (BTC) 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 Wednesday morning. The probability jumped by 16 percentage points in the last 24 hours, according to data from Polymarket.
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%.
Point to Note: Polymarket, which operates on the Polygon (POL) blockchain and allows users to place bets using cryptocurrencies, is unavailable to U.S. residents due to regulatory restrictions.
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.
Price Action: Bitcoin was trading at $96,666.47 at press time, showing a 2.42% increase in the last 24 hours, according to Benzinga Pro. The coin had risen by 24.80% over the month.
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