Bitcoin (BTC) touched the all-time high of $93k in the past week, but this week begins with a slight retreat as it falls 1.12% to $89K. As a result, the dip triggered Polymarket odds of BTC reaching $95K in November goes down to 63%.
At the time of writing, BTC is trading at $89,743, after a slight dip of 1.12%. The 25 hour market volume has, however, gone up by 7.5% to $46.56 billion. BTC’s market cap has gone down by 0.96% to 1.78 Trillion even as this crypto remains 8th on the list of most valued assets.
In the wake of this retreat, several market analysts have called for ‘Buy the dip’ especially for long-term investors looking to invest in Bitcoin.
Dip buying, that’s what we want with #Bitcoin.
Getting close to the first point of interest, and, in the meantime, $ETH is getting close towards an optimal entry as well. pic.twitter.com/H5jEp4QHZA
— Michaël van de Poppe (@CryptoMichNL) November 15, 2024
Michel Van de Poppe said, “The general plan for the upcoming period is to buy the dip,” suggesting that both BTC and ETH are nearing optimal levels for traders looking to capitalize on market retracements. However, if BTC fails to support the $89,275, it may lead to further decline, with downside targets at $87,940 and $86,687.”
When it comes to what prediction market platform, Polymarket says about Bitcoin’s price in November, the odds of BTC at $95K has gone down to 63% from that of 15 November’s odds at 73%.
Another burning question on Polymarket remains Will Bitcoin hit $100k in 2024?, and 62% bets are staked on Ayes, a sharp jump from the odds of 44% from the previous week.
Also Read: Bitcoin Price Won’t Slip Below $60,000, Says Michael Saylor
