Investors are predicting continued downward movements in Bitcoin, Ethereum, and Solana in the short term.
The cryptocurrency market experienced sharp declines this week following the prolonged US government shutdown, diminishing expectations for a Fed interest rate cut, and hawkish statements from Fed Chair Jerome Powell.
Following the sharp and sudden declines in Bitcoin and altcoins, investors’ expectations of further declines have increased.
The declines experienced at this point also significantly changed the expectations on the prediction market Polymarket.
Investors believe that downside movements will continue in the short term, especially in Bitcoin (BTC), Ethereum (ETH), and Solana (SOL).
According to Polymarket data, November expectations for BTC, ETH and SOL prices were as follows.
In the predictions titled “What Price Will Bitcoin Reach in November?”, bearish expectations for BTC seem to dominate.
The predictions titled “What Will Ethereum’s Price Be in November?” also feature bearish predictions for Ethereum. At this point, the majority of market participants believe ETH will continue its decline in November.
The probability of Ethereum rising above $5,000 in November was limited to only 3%.
The expectation of a decline is also clearly evident in the predictions titled “What Will Solana’s Price Be in November?”
