Bitcoin and altcoins continue to experience sharp declines due to ongoing ETF outflows, a more hawkish Fed, and a stronger dollar.
As Bitcoin fell to levels as low as $58,000 in the recent decline, expectations for June on the forecasting market Polymarket were also reshaped.
At this point, investors are expecting a decline, especially for Bitcoin ($BTC), Ethereum, and $XRP.
According to Polymarket data, the price expectations for $BTC, $ETH, and $XRP in June were as follows.
1. Bitcoin ($BTC):
Predictions titled “What Price Will Bitcoin Reach in June?” indicate that a decline in $BTC prices is the dominant expectation.
- A drop below $57,500 is the most likely scenario, with a 49% probability.
- This is followed by a 37% probability of Bitcoin rising above $62,500.
- This is followed by a 19% probability of Bitcoin falling below $55,000.
- Finally, the possibility of Bitcoin rising above $65,000 only covers about 10% of the target.
2. Ethereum ($ETH):
In predictions titled “What Will Ethereum’s Price Be in June?”, bearish forecasts for Ethereum are also prominent.
- The most dominant scenario is a drop below $1,500, with a 66% probability priced in.
- A drop below $1,400 is priced in with a 22% probability.
- The probability of Ethereum surpassing $2,000 is priced at only 1%.
3.$XRP:
In predictions titled “What will the price of $XRP be in June?”, bearish forecasts for $XRP are prominent.
- The most likely scenario is a drop below $1, with a 70% probability of the price being priced in.
- Secondly, a drop below $0.8 is priced in with a 2% probability.
- In contrast, a move above $1.4 is priced in with only a 1% probability.
