The odds of Bitcoin’s price falling below $55,000 in 2026 rose to 72%, while on Kalshi most bettors backed Bitcoin’s price falling below $50,000 this year.
- Traders on both Kalshi and Polymarket favored Bitcoin’s price going below $60,000 in February.
- On Stocktwits, retail sentiment around Bitcoin continued to trend in ‘bearish’ territory over the past day amid its volatile price movements.
- Bitcoin’s drop below $65,000 triggered $465 million in liquidations over the last 24 hours, with most of that coming from long positions being wiped out.
The odds of Bitcoin’s (BTC) price going below $55,000 rose on predictions markets on Sunday night after the apex cryptocurrency momentarily dipped below the $65,000 mark.
According to Polymarket data, the numbers of bets on Bitcoin’s price going below $55,000 in 2026 rose by 14% to 72% over the past 24 hours, making it the most likely outcome across available contracts. The odds of Bitcoin’s price dipping below $50,000 rose by 9% to 61%.
On Kalshi, most bettors backed Bitcoin dropping below $50,000 in 2026. Traders on both platforms favor Bitcoin’s price going below $60,000 for February.
Why Is Bitcoin’s Price Down?
Bitcoin’s price took a hit on Sunday night following President Donald Trump’s announcement that he would be implementing a 15% import tax on all goods being imported into the U.S. This follows a Supreme Court judgement on Friday that stuck down his previous global tariffs.
The taiffs will reportedly be implemented under Section 122 of the 1974 Trade Act, which allows the tariffs to stay in place for five months before any kind of congressional approval is required. The move also raises uncertainty for countries like the UK and Australia, which had agreed to a 10% trade deal with the U.S.
Speculation over Trump potentially launching a limited military strike on Iran to pressure Tehran into a nuclear deal is also weighing on markets. Coinglass data showed $465 million in liquidations over the last 24 hours, with more than $434 million coming from long positions being wiped out.
Bitcoin’s Price Today
Bitcoin’s price recuperated to around $65,040 on Sunday night after momentarily dipping below the support level, still down 4.2% in the last 24 hours. On Stocktwits, retail sentiment around the apex cryptocurrency continued to trend in ‘bearish’ territory over the past day.
One user on the platform said they anticipate Bitcoin’s price to tumble to between $48,000 and $50,000 within the next three weeks, calling it the “single worst technical setup” they’ve ever since in BTC.
Another noted the irony of Bitcoin’s price falling under a pro-crypto President, anticipating the cryptocurrency to hit $38,000 soon and falling to $20,000 within a year.
Bitcoin’s price has fallen nearly 26% this year and is down over 48% from its record high of over $126,000 seen in October last year.
Read also: Bitcoin Slumps Under $65K, Ethereum Underperforms After Trump’s 15% Tariff Announcement
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