The post Bets are flowing in for Bitcoin reaching $100K appeared on BitcoinEthereumNews.com.

Polymarket has a hot new pair – the bet on whether BTC reaches $100K. In the post-election period, Polymarket is rebuilding its volumes, capitalizing on the latest BTC rally above $84,000. Polymarket once again drew attention to its predictive powers. Bets on Bitcoin (BTC) breaking $100K are growing, leading to a vertical climb for the ‘Yes’ token. Just like the US election result, the approach of the possible event will accelerate bets. However, latecomers will have to enter the ‘Yes’ token at a higher price.  The bet on BTC reaching $100K shifted on November 11, breaking above 53% odds. | Source: Polymarket There are several bets active on BTC reaching six-digit prices. The bet that sparked a buying frenzy asks whether BTC will hit $100K by the end of the year. The chances based on token buying ranged between 49% and 53% as of November 11, rising rapidly within one day. The odds may change at any moment, while also reflecting the trend of greed and FOMO on the spot market.  The betting pair has $2.6M in volumes, a factor of 1,000 smaller than the size of political markets. At this range, the pair may be more volatile, or even easily swayed by whale activity.  Other predictions on the price of BTC do not follow strong convictions. The November betting pair only has 26% odds of reaching $100K from current price levels. For different price tiers, the bets are heating up on BTC reaching $90,000, with the ‘Yes’ token at 72%.  The BTC price is extremely dynamic and may be swayed in minutes. The currently available markets may not have the predictive power of the political bets, where the odds had more chances to be estimated. Some of the markets show increasing demand and a shift in odds, potentially acting…

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Filed under: News - @ November 11, 2024 8:20 pm