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08/02/26 12:51 UTC-04

According to Polymarket bets, the bearish trend in the crypto market is not over

Cryptocurrency Cryptocurrency
Cryptocurrency According to Polymarket bets, the bearish trend in the crypto market is not over

Based on data from the prediction market Polymarket, the bearish trend in the cryptocurrency market is still ongoing.

After the renewed downward movement on February 3, most digital assets declined significantly. The total market capitalization of tokens and coins fell by 22%, reaching its lowest level since October 2024 at $2.05 trillion. However, on Friday the market began to rebound and recovered part of the losses.

Despite this recovery, most Polymarket users expect the bearish trend to continue. Betting data shows that the probability of Bitcoin falling to $55,000 in 2026 is estimated at 74%, while the chance of a drop to $50,000 stands at 63%.


Probability of BTC reaching different price levels

A similar situation is observed with Ethereum. Members of the crypto community are actively betting on a decline in its price. Over the past 24 hours, the probability of ETH falling to $1,500 increased by more than a quarter, reaching 72%. At the same time, a drop to $1,000 is considered unlikely, with a probability of only 30%.


Probability of ETH reaching different price levels

Polymarket users, like many traders, do not believe the downtrend will end soon, as historically such phases tend to last around a year. Ethereum began declining in August 2025, while Bitcoin started its drop in October. Based on this, Happy Coin News analyst Yurii Saveliev believes the bearish trend may dominate the market for several more months, with crypto prices potentially setting new local lows.

See also: "As Bitcoin recovers, major players are becoming active! Here are their transactions"

#Bearish Trading #Bitcoin (BTC) #Ethereum (ETH) #Polymarket

Editor: Yulia Krasnaya
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