Bitcoin dipped under $65,000 over the weekend earlier than stabilizing Monday, as merchants on prediction market Polymarket ramped up bearish bets.
The percentages of Bitcoin falling beneath $55,000 rose to 72%, with about $1.2 million in quantity.
Bets on drops under $50,000 and $45,000 additionally climbed to 61% and 47%, with roughly $170,000 and $1.4 million in quantity, respectively.
Market cap slide
Bitcoin briefly fell beneath $65,000 on Sunday and recovered to round $65,900 on the time of writing.
Its market capitalization slipped to about $1.31 trillion, falling to fifteenth 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 costs slid from round $90,000.
The full crypto market cap has additionally dropped about $760 billion, or 24.5%, based on CoinGecko.
$55,000 as a possible backside
Normal Chartered analysts have projected Bitcoin may fall to $50,000 earlier than doubtlessly recovering towards $100,000.
CryptoQuant instructed $55,000 stands out as the “final market backside,” and mentioned on Monday that USDT was beneath “excessive liquidity stress,” echoing circumstances seen close to the 2022 backside.
The agency additionally pointed to stablecoin alternate flows, noting internet USDT inflows to exchanges fell from a one-year excessive of $616 million in November 2025 to $27 million.
CryptoQuant mentioned in its report:
“This contraction signifies decreased liquidity able to be deployed into crypto markets.”
Regardless of the bearish positioning, bitcoin advocate Pierre Rochard referred to as Bitcoin the “most undervalued asset on the earth” in a Sunday put up on X.
A Coinbase survey additionally discovered about 70% of institutional buyers seen Bitcoin as undervalued when priced between $85,000 and $95,000.