Cryptocurrency bettors are raising the possibility of Bitcoin (CRYPTO: BTC) diving below $50,000 this year as sentiment toward the leading digital asset continues to deteriorate.

Bookmakers Turn Bearish On BTC

Bearish expectations intensified overall, with the odds of Bitcoin falling below $45,000 rising to 38%, while the probability of a move below $55,000 jumping to 66%.

Nearly $40 million has been wagered on the outcome, making it one of the most keenly watched bets on Polymarket.

Bitcoin Struggles After High-Profile Exits

The jump in odds coincided with fresh turmoil in the Bitcoin market, with the leading cryptocurrency plunging below $65,000 for the first time in over two months….

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