Numerous Moves: Forecasters Turn Bullish as Bitcoin Returns to $100,000

While doom permeated the markets last week, crypto participants are feeling a bit more cheerful following the passing of Thanksgiving and the start of a market rally.

Bitcoin has risen 7.4% over the past seven days, recovering $91,000, but is still nearly 28% below its all-time high in August. Where is it going? Forecasters on Myriad are starting to turn bullish.

We’ll see how bullish this week is as we examine some of Myriad’s key markets.

(Disclaimer: Myriad Markets is a product of Decrypt’s parent company, Dastan.)

Bitcoin’s next step: pump to $100,000 or dump to $69,000

Market open: November 5
Close market: Open to solution
Volume: $19.9K
Link: View the latest odds on the “Bitcoin’s Next Move: Pump to $100,000 or Dump to $69,000?” market on Myriad

Bitcoin’s short-term fate remains one of the hottest markets among countless forecasters. This time, forecasters are asked whether the leading cryptocurrency’s next move will be a pump to $100,000 or a dump to $69,000.

BTC is steadily gaining ground after a decline and a decline liquidations briefly dropped it below $82,000. After a weekly rebound of 10%, forecasters are bullish, putting the chance of a rise to $100,000 as of Friday morning at around 74%.

That represents an increase of about 24% in pump opportunities since the market was created. Analysts have cited declining institutional interest and uncertainty about Federal Reserve policy as reasons for the decline – but have we reached sales exhaustion?

Experts like Tom Lee, chairman of BitMine Immersion Technologies, think the market has merely undergone a reset since then record-breaking liquidations of $19 billion on October 10, and that BTC may still be queuing for a new high before the end of the year.

Strategy’s Michael Saylor is also predictably bullish for a year-end run, saying as much last month There is still $150,000 at stake before January.

The odds are shifting in favor of a rate cut in December, which could also provide a short-term catalyst.

Bitcoin will need to jump 9.8% to tip $100,000 again. It will need to drop more than 24% to reward more bearish forecasters who think a drop to $69,000 is in the offing.

What’s next? The FOMC meeting will take place on December 9 and 10, with the odds of a rate cut improving to around 84%, according to Myriad forecasters.

Will Brian Armstrong appear in the first episode of UpOnly?

Market open: November 25
Close market: Open to solution
Volume: $702
Link: View the latest odds on the “Will Brian Armstrong appear on the first episode of UpOnly?” market on Myriad

Coin base recently spent about $400 million to acquire Echoa crypto fundraising platform founded by pseudonymous crypto personality Cobie, whose real name is Jordan Fish.

Part of the agreement included a $25 million purchase of the UpOnly NFTa token that granted the buyer the rights to a new season of the popular crypto podcast UpOnly, starring Fish and another pseudonymous crypto personality, LedgerStatus.

The purchase comes with a number of conditions, including the right for the UpOnly co-hosts to choose the show’s guests, although they may “ask for some suggestions” if they like the buyer, according to the NFT.

Since Fish did that played the role of Coinbase customer support on Xsome may conclude that he is on good terms with the NFT buyer and the acquirer of his company. But is his newly created professional relationship enough to get Brian Armstrong called up for the first episode of the UpOnly return?

That’s what forecasters on Myriad have to decide. As of Friday morning, the odds are almost 60% “no,” with forecasters leaning against preferential treatment that would push Coinbase’s CEO into the guest seat for the first episode.

Fish has said the show will start when they find all eight guests, but early Guest ideas from the Echo founder do not include Armstrong.

Is that because it’s a given? Forecasters don’t think so.

What’s next? No timetable for the show’s return has been announced.

Will Revolut announce the launch of its own stablecoin in late 2025?

Market open: July 4th
Close market: December 31st
Volume: $27.8K
Link: View the latest odds on the “Will Revolut announce its own stablecoin?” market on Myriad

Neobank giant Revolut has been getting into crypto and integrating lately Polygon to enable stablecoin payments and transfersAnd obtaining a Markets in Crypto-Assets (MiCA) license from the Cypriot securities regulator.

The company, that recently raised at a valuation of approximately $75 billionhas been offering crypto trading since 2017 and this was also the case this summer It is rumored to be considering launching its own stablecoin.

Myriad forecasters have since been asked whether the company will announce one by the end of the year.

In July, forecasters briefly favored the chances of Revolut announcing a stablecoin launch. But for most of the market’s existence, the odds were heavily against the European fintech company unveiling a fiat-backed token, averaging around 75% no, until early October, when the odds turned around a coin flip.

Reasons for a strong odds move are not immediately apparent, but the company did gain around the time of the move approval to establish a bank in Colombiawhere it said it aims to offer a “portfolio of innovative financial products.”

But since then, the market has fallen back and is no longer in favor of a stablecoin announcement.

This despite the MiCA announcement, after which a lawyer specializing in crypto regulation in the EU said this Declutter the the launch of a Revolut stablecoin by 2026 was a “plausible” development.

But it’s becoming less plausible every day as the calendar turns, with forecasters letting the odds slide another 4% this week to an 86% ‘no’.

What’s next? This market closes for predictions four hours before the end of the year.