Bitcoin Traders Flip Bearish, Predict $55K Bottom as BTC Hits Two-Month Low on Monday

On Monday, prediction market users on Myriad predicted a 53% chance that Bitcoin drops to $55,000 rather than rising back towards $84,000, down from 62% bullish probability the previous day. Bitcoin is now trading at $67,312, its lowest price since April 5, having fallen more than 5% in the last 24 hours and over 12% during the past week.

The sell-off has been driven by multiple negative catalysts: Bitcoin treasury firm Strategy offloaded 32 BTC worth approximately $2.5 million last week, its first sale since 2022, while U.S. Bitcoin ETFs saw more than $3.4 billion in outflows over an 11-day streak, with nearly $600 million in BTC long positions liquidated in the last 24 hours according to CoinGlass data.