Bitcoin (BTC) Price Action Begins the Week With a Slight Retreat, Polymarket Odds of BTC Reaching $95K in November Goes Down to 63%

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%.

Bitcoin (BTC) price began the week with a slight dip as it fell 1.12% to $89,743 at the time of writing. This dip follows BTC’s all-time high of $93,000 last week, and a slight retreat to begin the week.

As a result, the odds of Bitcoin reaching $95K in November on prediction mallet platform, Polymarket, has gone down to 63%.

According to data from CoingGecko, the 25 hour market volume has gone up by 7.5% to $46.56 billion. BTC’s market cap has also seen a slight decrease of 0.96% to $1.78 Trillion. Despite this dip, Bitcoin remains 8th on the list of most valued assets.

Several market analysts have highlighted optimal levels for traders to capitalize on market retracements, with both BTC and ETH nearing these points.

The masterplan for the upcoming period: buy the dip.

Both BTC & ETH are nearing optimal levels for traders looking to capitalize on market retraces.

If BTC fails to hold $89,275, it could lead to further declines, with downside targets at $87,940 and $86,687.

Meanwhile, if BTC manages to find sufficient support at $89,275, it may pave the way for a rebound towards $91,860 and $93,000.

According to market prediction platform, Polymarket, the odds of Bitcoin being at $95K in November has decreased.

As of 15 November, the odds are pegged at 63%, while BTC reaching $100K in 2024 has seen a sharp increase in odds, with 62% betting on Ayes. This marks a significant jump from the previous week, where the odds stood at 44%.

Earlier this month, several analysts shared their thoughts on Bitcoin’s price remaining above $60,000, with MicroStrategy’s Michael Saylor stating that he “can’t imagine” BTC slipping below this level.

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