Ross Gerber Says Bitcoin Has ‘Lost The Narrative’ As Prediction Markets Raise Odds Of BTC Falling Below $50,000: ‘People Are Tired Of Rug Pulls’

Cryptocurrency bettors are raising the possibility of Bitcoin (CRYPTO: BTC) diving below $50,000 this year as sentiment toward the leading digital asset continues to deteriorate.

Bookmakers Turn Bearish On BTC

As of this writing, Polygon (CRYPTO: POL)-based Polymarket assigned a 53% chance of Bitcoin sliding below the key milestone, up from 44% the day before, and 28% last week.

Bearish expectations intensified overall, with the odds of Bitcoin falling below $45,000 rising to 38%, while the probability of a move below $55,000 jumping to 66%.

Nearly $40 million has been wagered on the outcome, making it one of the most keenly watched bets on Polymarket.

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