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Traders Predict Bitcoin to $55,000 and Ethereum to $1,500 as Both Fall Over 20% in June

GateNews
Price PredictionPrediction MarketPrice VolatilityStocks
BTC-1.80%
ETH-2.74%
According to Myriad prediction market, traders expect Bitcoin to fall to $55,000 and Ethereum to drop to $1,500 on Thursday, with odds of 77% and 88% respectively. Bitcoin has already fallen to $59,511—down 23% this month and 1% in the last 24 hours—while Ethereum slid to $1,576, down 25% in June and 2.6% daily. The selloff is fueling concerns over Strategy (MSTR), the Bitcoin treasury firm whose shares have plunged 45% this month. Its preferred equity offering, STRC, has fallen 22% in June to around $77. According to Bitwise CIO Matt Hougan, STRC trading in the $70s is driving near-term Bitcoin pressure, with markets fearing Strategy may be forced to sell holdings.
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