Prediction markets are seeing heavy activity on crypto price outcomes. Tens of millions in volume have been spent on Bitcoin’s January price alone, alongside high-volume contracts for Ethereum, XRP, and Solana.
The concentration of capital in short-term price bets has raised concerns about crypto’s future. These rotating, binary wagers suggest the industry is being treated less as a long-term investment asset class and more as a speculative wagering venue.
Crypto prediction polls are gaining traction on Polymarket. One contract, which will remain active through the end of the week, has already recorded nearly $67 million in trading volume tied to Bitcoin’s price by the end of January.
So far, most participants have bet on a downside scenario, with $85,000 emerging as the favored low. Meanwhile, longer-term sentiment around Bitcoin appeared more optimistic.
In a separate poll surpassing $9.3 million in trading volume, the majority of bettors predicted Bitcoin would reach $100,000 before the end of the year.
Price speculation extended beyond Bitcoin, with users also placing bets on Ethereum and other major altcoins, including Solana and XRP.
Traders expected ETH to fall to $2,600, while SOL was projected to trade around $110 by February and XRP to decline to $1.80.
These predictions come as the broader crypto market struggles to regain momentum. Bitcoin has declined roughly 6% over the past week, failing to reclaim the $90,000 level.
The market’s recent performance also revived concerns about a potential bear phase ahead. Yet even as analysts question fundamentals, price volatility itself appears to be driving participation. Traders now seem to be using market weakness as an opportunity to place bets.
The question now is whether this shift signals the emergence of a new phase for crypto, and what it could mean for the market’s long-term role.
Much of the progress crypto has made over the past year rested on its integration as a traditional investment asset. Key milestones emerged as Bitcoin and Ethereum became available through exchange-traded funds.
Other developments included the public listing of crypto-native firms on major stock exchanges and the expansion of tokenized traditional assets on blockchain-based infrastructure.
However, as prediction markets are expected to grow exponentially in 2026, crypto’s trajectory appears to be approaching a crossroads.
The proliferation of polls tied to short-term price movements in cryptocurrencies has driven hundreds of millions in volume. As these short-term price bets attract more capital and attention, market fundamentals risk slipping into the background.