Prediction market users turned sharply negative on the prospects of a “crypto spring” as prices tumbled following hotter-than-expected inflation data.
Under Myriad’s rules, the market resolves “Yes” only if at least four of five targets are hit during the observation period ending May 31: BTC at $80,500, ETH at $2,400, SOL at $100, BNB at $750, and HYPE at $35. With HYPE already marked as hit, traders are effectively pricing whether at least three of the remaining four majors can still clear their thresholds.
Speaking to Decrypt earlier today, GSR research analyst Carlos Guzman noted that the rise in prices would boost inflation concerns. The central bank could be forced to keep interest rates higher if elevated energy costs persist, he said, noting that it would be “bad for crypto” given that investors tend to favor risk assets when interest rates drop.
