Bitcoin dipped below $65,000 over the weekend before stabilizing Monday, as traders on prediction market Polymarket ramped up bearish bets.
The odds of Bitcoin falling under $55,000 rose to 72%, with about $1.2 million in volume.
Bets on drops below $50,000 and $45,000 also climbed to 61% and 47%, with roughly $170,000 and $1.4 million in volume, respectively.
Market cap slide
Bitcoin briefly fell under $65,000 on Sunday and recovered to around $65,900 at the time of writing.
Its market capitalization slipped to about $1.31 trillion, falling to 15th globally and dropping behind the Vanguard S&P 500 ETF (VOO).
Down 25% year-to-date
Bitcoin’s market cap is down about $440 billion in 2026, roughly a 25% decline, after prices slid from around $90,000.
The total crypto market cap has also dropped about $760 billion, or 24.5%, according to CoinGecko.
$55,000 as a potential bottom
Standard Chartered analysts have projected Bitcoin could fall to $50,000 before potentially recovering toward $100,000.
CryptoQuant suggested $55,000 may be the “ultimate market bottom,” and said on Monday that USDT was under “extreme liquidity stress,” echoing conditions seen near the 2022 bottom.
The firm also pointed to stablecoin exchange flows, noting net USDT inflows to exchanges fell from a one-year high of $616 million in November 2025 to $27 million.
CryptoQuant said in its report:
“This contraction indicates reduced liquidity ready to be deployed into crypto markets.”
Despite the bearish positioning, bitcoin advocate Pierre Rochard called Bitcoin the “most undervalued asset in the world” in a Sunday post on X.
A Coinbase survey also found about 70% of institutional investors viewed Bitcoin as undervalued when priced between $85,000 and $95,000.
