Zinger Key Points
- Predictions for Bitcoin hitting $105,000 stand at 46%, while a $150,000 price point is considered highly unlikely at 1%.
- Ethereum and Solana are also gaining attention, with 23% and 47% chances for hitting $4,000 and $275, respectively.
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Polymarket bettors are speculating on Bitcoin‘s BTC/USD performance this November, with sharp focus on whether the cryptocurrency will surpass $100,000.
Current predictions on the platform show a 79% chance that Bitcoin will breach this milestone, fueled by the asset's recent all-time high of $98,310 and growing optimism in the market.
Bettors Lean Toward $105,000, Cautious Beyond
Beyond the $100,000 mark, Polymarket data indicates a 46% probability for Bitcoin to hit $105,000 in November, while a rise to $110,000 is pegged at 25%.
However, optimism dims for more ambitious targets—only 9% of bettors see Bitcoin reaching $120,000, and just 1% believe it could hit $150,000 this month.
The cautious sentiment for extreme price hikes highlights the market's view of Bitcoin's upward limits this month, even as the cryptocurrency has shown consistent growth.
Institutional Activity And ETF Inflows Boost Optimism
Bitcoin's rally is being bolstered by significant institutional activity.
For example, MicroStrategy‘s MSTR plans to raise $2.6 billion to purchase more Bitcoin has pushed its market cap past $100 billion.
Additionally, U.S. Bitcoin spot ETFs recorded $1.84 billion in net inflows over the past three days, showcasing rising demand for Bitcoin as an asset class.
These developments, combined with easing global monetary policies, are likely contributing to the bullish outlook for Bitcoin's price trajectory.
Bitcoin isn't the only cryptocurrency drawing attention. Polymarket bettors are also speculating on Ethereum and Solana's November performance.
For Ethereum ETH/USD, there's a 23% chance of hitting $4,000 in Novem, while Solana SOL/USD bettors assign a 47% probability to the token crossing $275.
These markets indicate an overall bullish sentiment across major cryptocurrencies.
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