Polymarket Users Predict Sharp Decline in Bitcoin Price

Polymarket users have made a collective prediction that Bitcoin's price may drop below $55,000. According to the platform's data, 75% of users believe this outcome is likely, with a significant volume of bets placed to support their claim.

The current market capitalization of Bitcoin has fallen to $1.32 trillion, ranking it 14th in the global list of largest corporations. This represents a decline of approximately 25% since the beginning of the year, with the total crypto market capitalization shrinking by around 24.5%.

Experts' opinions on Bitcoin's value vary, but some forecast a potential rise to $100,000 after an initial drop. A recent survey by Coinbase found that 70% of respondents consider the asset's current price to be undervalued compared to precious metals and stocks.