$1.1M Bet on Bitcoin Hitting $70K Reviewed

 
Florence Muchai
Written By 
Florence Muchai
 
Harsh Chauhan
Edited by 
Harsh Chauhan
July 29, 2024

The price of Bitcoin has been on an upward trajectory for the last seven weeks. At present, Bitcoin is trading at different ranges in different crypto exchanges. One thing to note is that all the prices are heading towards $70,000. With that at play, there is a BTC price review on Polymarket: “What price will $BTC reach in July?”

Bitcoin nears $70,000

political bets, crypto traders have wagered on the price at which BTC will hit in July. There is a $1,167,176 bet that expires on July 31, 2024. From that portion, there is a $719,598 bet that BTC will hit $70K by the end of July. The rest is split between BTC at $75K and $80K.

Polymarket Bets

Bitcoin has surged over 3% following the weekend’s 2024 Bitcoin Conference in Nashville. Donald Trump has hailed crypto, giving investors trading confidence. Crypto’s Fear and Greed Index has spiked to 74 within the last 24 hours.

The bet is being reviewed, and traders may cash in on their correct prediction. According to on-chain data from Binance, BTC is currently worth $67,97. However, the coin hit $69,932 two hours ago at 13:45 GMT. CoinGecko on-chain data shows BTC trading at $67,930. However, the coin hit $69,907 at 16:16 GMT +3. CoinMarketCap shows BTC traded at $69,932 at around 16:15 GMT+3. If Bitcoin stabilizes at $70K, traders will liquidate their wins at Polymarket.

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Florence Muchai
Written by Florence Muchai

Florence Muchai is a crypto journalist at CryptoNewsZ with four years of experience covering Crypto, Blockchain, Web3, NFT, and AI. She has written for MSN and CryptoPolitan, bringing a wealth of knowledge to the industry. Florence holds a Bachelor's Degree in Disaster Management and International Diplomacy and a Master's Degree in Clinical Psychology. She is a digital nomad and explores the intersections of decentralized and traditional finance, offering insightful analysis on wealth creation, financial literacy, and the evolving digital economy. She is ionate about empowering readers with knowledge and delves into emerging trends, regulatory developments, and the impact of blockchain on global finance.