Odds of BTC Hitting $130K This Month Drop to Nearly 0%
Analysis
Price Impact
HighBitcoin failed to meet 'uptober' expectations, experiencing its first red october since 2018. significant liquidation event ($19b) due to us-china trade tensions led to a sharp price drop and underperformance against gold.
Trustworthiness
HighInformation is based on reporting from u.today, referencing data from coingecko and polymarket betting odds, which are generally reliable sources for market sentiment and current prices.
Price Direction
BearishOdds of btc hitting $130k this month are nearly 0%, and there's a 3% chance it could drop below $100k. polymarket bettors are also pessimistic about btc topping $130k (46% chance) or $150k (14% chance) this year.
Time Effect
ShortThe analysis focuses on the current month's performance ('uptober' failure) and predictions for the remainder of the year, indicating immediate to short-term market sentiment.
Original Article:
Article Content:
Cover image via U.Today Read U.TODAY on Google News Why did 'Uptober' flop? Pessimistic 2025 predictions Advertisement This month was supposed to be a massive breakthrough for the jaded Bitcoin bulls. However, "Uptober" turned into "Floptober," and the leading cryptocurrency is now on track to score its first October in the red since 2018. The cryptocurrency reached an intraday low of $110,020 earlier this Wednesday, CoinGecko data shows. HOT Stories Odds of BTC Hitting $130K This Month Drop to Nearly 0% BREAKING: Mastercard to Acquire Crypto Startup for $2 Billion Forget Quantum Threat, Peter Schiff Explains How Bitcoin Will Actually Die Morning Crypto Report: XRP to $4.20 Not a Dream, New Ethereum Hard Fork Game-Changer, Bitcoin Faces Worrying $111 Million Sale According to Polymarket bettors , the odds of the leading cryptocurrency surpassing $130,000 this month currently stand at 0%. Advertisement There is also a 3% chance that Bitcoin will plunge below $100,000 this month. Why did 'Uptober' flop? The cryptocurrency started the month on a high note, surging to a new record high. However, things quickly turned south for the bulls due to an escalation in trade tensions between the US and China. The cryptocurrency market experienced its biggest liquidation event ever, with $19 billion worth of longs and shorts being wiped out after the US announced 100% tariffs on the second-largest economy. Bitcoin's plunge undercut the safe-haven narrative, and the cryptocurrency continued to underperform gold. Even though the trade tensions between the two superpowers have now diffused, Bitcoin has struggled to recover. Pessimistic 2025 predictions Will the bulls be back in the driver's seat this year? Polymarket bettors do not think so. In fact, only 46% of them think that Bitcoin will top $130,000 during the remaining two months. In the meantime, there is only a 14% chance of BTC topping $150,000 this year. That said, "Rich Dad Poor Dad" author Robert Kiyosaki is still convinced that Bitcoin is on track to surpass $250,000 this year. #Bitcoin Price Prediction