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According to Polymarket bettors, Bitcoin, the flagship cryptocurrency, currently has a 25% chance of surpassing the $125,000 level as early as this September.
Earlier today, the top cryptocurrency by market cap reached an intraday high of $117,934 on the Bitstamp exchange.
It is down roughly 5.5% from its all-time peak of $124,517, which was reached on Aug. 14.
Uber-bullish bets
There are also some uber-bullish traders who believe that the price of the leading cryptocurrency could potentially reach $130,000 within less than two weeks.
The odds of Bitcoin soaring all the way to $150,000 in September currently stand at 1%.
What about Bitcoin bears?
The odds are not looking too rosy for Bitcoin bears, which shows that market sentiment has become overwhelmingly bullish.
Bitcoin has just an 11% chance of slipping to $107,000 this month, which is a considerable drop compared to a local peak of 11%.
There is also only a 3% chance of Bitcoin plunging below $100,000 by the end of the month (compared to 41% in early September).
All eyes on Q4
Polymarket bettors currently see a 42% chance of Bitcoin hitting by the end of the year.
As reported by U.Today, Fundstrat's Tom Lee previously predicted that BTC could hit $200,000 as soon as this year, but the market currently sees only a 7% chance of such a scenario.
Bitwise's Matt Hogan previously compared the current market sentiment to the Super Bowl pre-game show due to the combination of the ETF bonanza and the Fed's rate cuts.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team