Polymarket traders have placed several bets that Bitcoin will reach at least $126,000 by October. According to the prediction site, bets have already been placed worth more than $332,000 on a 71% probability of Bitcoin reaching a new all-time high in the month.
The other Polymarket bets include an 85% wager on hitting $124,000, which has a balance of $123,000, and a stake of $122,000 on the cryptocurrency hitting $122,000. This optimism increases after what the crypto community calls Uptober, a phenomenon that suggests Bitcoin performs well during October.
This month is already experiencing significant inflows over the trading platforms, which is an indication of better sentiment and speculative momentum in the digital asset market.
Bitcoin is trading at $122,024, up 1.52% in the last 24 hours and 10% over the previous seven days. This is because the market capitalization of the token is currently approximately $2.4 trillion, and trading volumes are high across major exchanges.