Prediction market traders bet bitcoin's selloff has further to run
Prediction market traders are wagering bitcoin will fall further, pricing 66% odds of sub-$55,000 and 50% odds below $50,000 by year-end. Heavy ETF outflows and investors rotating toward AI stocks pressure BTC near $65,000. Capital fleeing crypto isn't entirely leaving the ecosystem—stablecoins USDT and USDC are gaining share as traders raise cash awaiting better entry points.
Key takeaways
- 1Prediction market traders price 66% odds of Bitcoin falling below $55,000 and 50% odds below $50,000 by year-end.
- 2US Bitcoin ETF outflows totaled $2.4 billion in May and $1 billion in early June as investors rotate to AI stocks.
- 3Stablecoins USDT and USDC gained market share during Bitcoin's slide, indicating traders are holding cash rather than exiting crypto.
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Why it matters
Bitcoin's correction amid institutional outflows and AI competition signals potential further downside for Indian retail investors holding BTC. The shift to stablecoins suggests traders expect better entry points, but prolonged weakness could impact crypto market sentiment and regulatory scrutiny in India.
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