In brief
- Predictors on Myriad now think Bitcoin will hit $105,000 before $125,000.
- Odds have flipped more than 20% in the last two days, as BTC continues its weekly slide.
- The asset now sits only about 4% above the $105,000 mark.
The recent weakness in Bitcoin’s price has predictors on Myriad feeling bearish about the asset’s next major price milestone—now predicting a dip to $105,000 before it makes a new all-time high at $125,000.
Odds of the next stop being $105,000 have increased to 68% in the last week, a gain of more than 25% in that timeframe. The bulk of that move has taken place in the last two days, with odds swinging more than 20% in favor of $105,000 since Wednesday night.
Myriad is a unit of Dastan, the parent company of an edtorially independent Decrypt.
The market’s volatility has been aided by Bitcoin’s gradual decline, now down 5% in the last week and changing hands below $110,000 for the first time since September 2.
The top crypto asset is flat in the last 24 hours amid news that U.S. core inflation held at 2.9% in August.
In addition to inflation data, markets are now also contending with new tariff headlines courtesy of President Donald Trump, leaving risk assets “under pressure” and “capital flows cautious,” according to Bitunix analyst Dean Chen.
“The recently announced high tariffs remain an uncertain factor that could deliver one-off inflationary pressure while weighing on growth,” Chen told Decrypt on Friday.
More than $162 billion in crypto valuations has been wiped out this week as Bitcoin just barely hangs on to a percentage point gain since September began. The month typically signifies a brutal stretch for Bitcoin, which has dropped 3.77% on average during the month in each year since 2013.
It will need a major turnaround to climb back towards its all-time high of $124,118. At its current price, BTC sits just 4% above the $105,000 mark that will bring resolution to the Myriad market which has attracted more than $300,000 in trading volume. It would need to gain 14% to resolve the other way.
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