Myriad Moves: Bitcoin Bearishness Grows as Gold Gets Closer to Beating Ethereum to $5K

Market Overview - The crypto market is currently characterized by tight trading ranges, resulting in minimal price movements for traders [1] - Bitcoin has recently struggled to maintain momentum after briefly surpassing $97,000, leading to bearish predictions regarding its potential to reach a new all-time high [2][3] Bitcoin Predictions - As of Thursday afternoon, predictors estimate a 19% chance for Bitcoin to surpass its previous all-time high of $126,080 by July, reflecting a nearly 10% decrease in optimism over the past week [3] - Bitcoin's price has recently fallen below $90,000, trading around $89,312 [3] Market Sentiment - Investor sentiment has been negatively impacted by President Trump's indecisiveness regarding Greenland and tariffs, resulting in a significant outflow from Bitcoin ETFs amounting to $709 million [4] - Despite the bearish sentiment, some industry figures, like Ripple's president, remain optimistic about the crypto market reaching new highs by 2026 [4] Gold vs. Ethereum Predictions - A prediction market on Myriad is focused on whether gold or Ethereum will reach $5,000 first, with gold currently priced at $4,938 after a 7.28% increase this week [6] - The odds have shifted significantly, now favoring gold at 94% likelihood of reaching $5,000 first, while Ethereum would need to increase by 60% from its current price of $2,948 [7]