That move coincides with the top crypto asset's significant rebound from below $63,000 on Tuesday to more than $69,000 on Wednesday. The price of Bitcoin currently sits at $67,137, as of this writing.
However, participants still point to a drop to $55,000 before a jump, giving the plunge roughly 56% odds as of this writing.
The index, which uses data points from social media, crypto volatility, and market momentum, has been stuck at that level for nearly all of February as prices began their rapid decline at the beginning of the month.
The bubbling disconnect between prediction market traders and market sentiment is evident on other prediction market platforms as well.
However, while trader sentiment has swung with the prices in the last few days, recent expert analysis has still warned of more pain ahead of potentially bigger gains.
Bitcoin and Ethereum were recently trading about 47% and 59% off their 2025 all-time highs, respectively.
