Prediction market users consider it increasingly likely that Bitcoin will dip below $70,000 before May ends, as the top crypto asset continues its weekly slide. Down 3% in the last 24 hours, Bitcoin was recently changing hands at $72,739, sitting just 3.9% above the $70,000 mark. Overnight, the price of the leading cryptocurrency by market cap hit a six-week low of $72,669, according to data from CoinGecko.
That has led to a significant move in the Bitcoin price target market on Myriad — a prediction market platform operated by Decrypt’s parent company, Dastan — where “under $70,000” odds jumped more than 240% in the last 24 hours, though they still stand at just 27%. Traders on Polymarket give similar odds — 26% — that Bitcoin will fall below $70,000 before May concludes.
Bitcoin’s slide has been fueled in part by mounting crypto liquidations, which stand at nearly $924 million in the last 24 hours, $851 million of which belong to long positions. “Partly this is due to ETF outflows, with serious amounts getting out,” an analyst from Arctic Digital told Decrypt on Thursday.
Bitcoin ETFs have lost more than $1 billion in the last two days of trading alone, with $733 million leaving the exchange-traded products on Wednesday, according to data from Farside Investors. More than $2.6 billion has left Bitcoin ETFs during the current eight-day losing streak.
While predictors are growing more bearish on the near-term price, odds have not surged for a steeper drop in the coming days. The odds of Bitcoin falling below $65,000 before the end of May stand at just 3% on Myriad.
Looking further out, the picture is more bearish. On Polymarket, traders put the odds at 54% that Bitcoin will dip below $55,000 and 42% that it will trade below $50,000 at some point in 2026. Earlier this year, crypto analysis firm CryptoQuant identified $55,000 as the “ultimate bear market bottom,” and analysts at Standard Chartered said Bitcoin could fall as low as $50,000 before a potential recovery to $100,000. Bitcoin currently sits more than 42% below its all-time high of $126,080.
Source: Prediction Markets Give 26% Odds Bitcoin Falls Below $70K by Month’s End