[DigitalToday reporter Chi-gyu Hwang (황치규)] The odds of bitcoin falling below $65,000 in 2026 on Polymarket have surged to 72 percent, Cointelegraph reported on Sunday local time.

The outlook came just after a sharp plunge pushed bitcoin below $75,000. Polymarket has seen $1 million in bets, and the probability of bitcoin falling to $55,000 also rose to 61 percent.

The decline came at a point when all gains since the election of U.S. President Donald Trump had been erased. Cointelegraph said market anxiety is growing, especially as Strategy has fallen below its average purchase price of $76,000.

CryptoQuant analysed that a bear market has persisted since November last year as bitcoin fell below its 365-day moving average. Julio Moreno, head of research at CryptoQuant, warned of the possibility of further declines, saying, "A bear-market bottom forms over several months."

Late last year, Grayscale expected bitcoin to break above $126,000, citing rising institutional demand and clearer U.S. regulation. Standard Chartered and Bernstein projected bitcoin would reach $150,000 in 2026, but lowered their targets recently due to declining ETF inflows.