Odds of BTC Hitting $130K This Month Drop to Nearly 0%
This month was supposed to be a massive breakthrough for the jaded Bitcoin bulls.
However, "Uptober" turned into "Floptober," and the leading cryptocurrency is now on track to score its first October in the red since 2018.
The cryptocurrency reached an intraday low of $110,020 earlier this Wednesday, CoinGecko data shows.
According to Polymarket bettors, the odds of the leading cryptocurrency surpassing $130,000 this month currently stand at 0%.
There is also a 3% chance that Bitcoin will plunge below $100,000 this month.
Why did 'Uptober' flop?
The cryptocurrency started the month on a high note, surging to a new record high.
However, things quickly turned south for the bulls due to an escalation in trade tensions between the US and China.
The cryptocurrency market experienced its biggest liquidation event ever, with $19 billion worth of longs and shorts being wiped out after the US announced 100% tariffs on the second-largest economy.
Bitcoin's plunge undercut the safe-haven narrative, and the cryptocurrency continued to underperform gold.
Even though the trade tensions between the two superpowers have now diffused, Bitcoin has struggled to recover.
Pessimistic 2025 predictions
Will the bulls be back in the driver's seat this year? Polymarket bettors do not think so.
In fact, only 46% of them think that Bitcoin will top $130,000 during the remaining two months.
In the meantime, there is only a 14% chance of BTC topping $150,000 this year.
That said, "Rich Dad Poor Dad" author Robert Kiyosaki is still convinced that Bitcoin is on track to surpass $250,000 this year.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
As treasury companies start selling coins, has the DAT boom reached a turning point?
From getting rich by holding coins to selling coins to repair watches, the capital market is no longer unconditionally rewarding the narrative of simply holding tokens.

Bitcoin Falls Below the 100,000 Mark: Turning Point Between Bull and Bear Markets?
Liquidity is the key factor influencing the current performance of the crypto market.

The "mini nonfarm payrolls" rebound beyond expectations, is the US job market recovering?
US ADP employment in October saw the largest increase since July, with previous figures also revised upward. However, experts caution that the absence of nonfarm payroll data means this figure should be interpreted cautiously.

Microsoft Strikes $9.7B Deal With IREN as AI Demand Surges

