Polymarket traders have sharply upped their bets on Bitcoin dropping to $55K. Prediction market traders are increasing their stakes, anticipating that the Bitcoin correction is far from over. On Wednesday morning, the leading crypto dipped to $65K, falling 9% in 24 hours and hitting a two-month low.
As of June 3rd, traders on Polymarket estimate there’s a 66% chance that Bitcoin will dip below $55k this year. This estimate has risen by 9% in just one day. According to market participants, the odds of a drop below $50k are at 51%, while the chances of BTC bouncing back to $90k are 34%, and to $100k are 22%. The total betting volume on this forecast has reached $39.9 million.
Additionally, Polymarket users have lowered their bets on Bitcoin outperforming gold this year. Since the beginning of the year, the probability of this happening in the forecast has decreased by 17% to 30%. Gold appreciated by about 2.5% in 2026, whereas Bitcoin has depreciated by 24%.
The probability that Bitcoin will hit $150k by the end of this year has dropped to 7% in Polymarket's forecast. This is the lowest estimate since betting started in August 2025.
The uncertainty about Bitcoin's further rise is also reflected in the Fear and Greed Index in the crypto market. It plummeted from 23 to 11 points in one day, indicating that market players are leaning towards panic selling of cryptocurrencies.
Experts surveyed earlier discussed the reasons for the market drop and identified the next strong support level for Bitcoin at $60k.
