Bitcoin's volatility peaks
BTC has been on a downward trend for almost a week. On Oct. 10, after U.S. President Donald Trump's post on increasing tariffs on Chinese goods went live, BTC plunged more than 10%, dropping below $110,000. Before the drop, its market cap stood at . At the time of writing, as per Kraken, BTC was trading at $106,777.
Polymarket bettors are going big on alien
Polymarket bettors are going big on alien discovery over the rise in Bitcoin's valuation. According to prediction platform Polymarket, users believe it is statistically more probable that the U.S. government will confirm extraterrestrial life in 2025 than Bitcoin (BTC) will break $200,000.As of Oct. 18, the odds for “Will the US confirm that aliens exist in 2025” stand at 4%, while “Bitcoin to hit $200K” trails behind in less than 1%.
BTC's current market cap had also fallen $2.4 trillion on Oct. 9 to $2.12 trillion, as of Oct 17.
24HOURE BTC RUN
Over the past 24 hours, the broader crypto market has witnessed almost $1.2 billion being wiped out as market sentiment remains cautious. BTC accounted for $349.55 million in the total liquidation.
Currently Moment In Bitcoin
However, some analysts still hold on to the belief that all is not over. In August, Jeff LaBerge, Bitdeer’s head of capital markets, said he expects BTC could climb to as high as $200,000 before the current bull cycle peaks.“There’s still plenty of upside potential,” LaBerge told TheStreet Roundtable, maintaining a distinctly bullish outlook even as some analysts begin to turn wary.