Bitcoin Crash Odds Surge to 65% as Inflation Data Crushes Rate Cut Hopes
Polymarket traders are betting big on a Bitcoin $50,000 plunge, with 65% odds after a brutal inflation print. Leveraged positions got wiped out as BTC tanked to its lowest since September 2024. The market sentiment has flipped sharply bearish, but a rebound isn't entirely off the table.
Hot inflation data just slammed the brakes on Bitcoin, sending BTC to its lowest point since September 2024. Traders are now pricing in a 65% chance of a drop to $50,000 this year, with even higher conviction for a $55,000 target. This sharp selloff liquidated over $1.26 billion in leveraged positions across exchanges, signaling a major shift in market sentiment. The hawkish inflation reading has all but killed hopes for imminent Fed rate cuts, adding fuel to the bearish fire. While the majority are bracing for a deeper slide, some still see a path back to $70,000, and a few contrarians are calling for bottoms as low as $40,000.