Polymarket sees 71% odds of Bitcoin falling to $80K by November

Polymarket, a leading prediction market platform, shows 71% odds of Bitcoin falling to $80,000 by November, reflecting current trader sentiment on the decentralized betting platform.

The platform hosts active markets for predicting Bitcoin price ranges in November, allowing users to bet on various outcome zones using blockchain technology. Traders on Polymarket have been adjusting odds based on ongoing market conditions and corrections.

Bitcoin’s price dropped below $82,000 on Friday morning, triggering almost $2 billion in leveraged liquidations in the crypto market over the past 24 hours. The decline came after a peak price of approximately $126,199 this year.

The decrease in value was influenced by substantial ETF outflows and a prevailing risk-off sentiment, primarily affecting long positions.