The probabilities of Bitcoin’s price reaching $70,000 before the end of July are 21%, or at least that is how traders on the prediction market platform Polymarket estimate it. Despite the asset currently trading near $61,600, the community’s skepticism remains firm within a betting market that already accumulates over $1.16 million in total volume.
This marked caution among traders directly contrasts with an institutional landscape showing signs of recovery. Spot Bitcoin exchange-traded funds (ETFs) in the United States recently recorded a daily net inflow of $221.7 million, marking their strongest capital inflow since early May and breaking a negative streak of ten consecutive days of massive outflows.
The market’s next step will depend on macroeconomic and regulatory factors, such as the evolution of capital inflows into ETFs and potential legislative progress in the United States Congress.
Source: https://goo.su/UCQmU
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