Bitcoin's recent volatility has led to a significant shift in sentiment within prediction markets. Initially, 75% of users on the Myriad platform, developed by Dastan, anticipated Bitcoin reaching $100,000 before $120,000. However, current sentiment has reversed, with 52% now expecting Bitcoin to hit $120,000 first. This change comes as Bitcoin trades around $110,000.
Technical indicators present mixed signals. The daily RSI is below 50, indicating bearish pressure, while the 4-hour RSI has increased to 57.6, suggesting short-term bullish momentum. Despite a weak ADX at 27, the EMA crossover points to a long-term bullish trend, although Bitcoin remains below the fast EMA. These prediction market shifts highlight potential short-term rebounds but do not ensure a high probability of reaching $120,000.
Bitcoin Prediction Markets Shift as Volatility Continues
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