Odds for the market had largely favored a dump in price over the last month, but flipped on Wednesday as the price of Bitcoin surged more than 7.5%. Predictors currently give BTC around 53% odds to hit $84,000, around a 19% upward swing in the last week, with Bitcoin recently trading just above $71,000.
That sentiment tracks with short-term markets from Polymarket and Kalshi, which have muted expectations for ETH in the next month, putting a damper on its Wednesday rally.
'The Worst Is Behind Us': Bitcoin Market Conditions Mirror FTX Bottom, Analysts Say
As it stands, the circulating market cap of Tether’s dollar-backed stablecoin USDT is around $66 billion behind.
