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Bitcoin continues to surge past the $71,000 mark with gambling markets asking if the cryptocurrency will hit an all time high by Friday May 24, 2024.
BetOnline featured an over/under of $72,000.5 closing price to end the month of May. BetOnline is also offering odds on when Bitcoin hits $100,000 with this not happening in 2024 as the pretty big favorite.
Polymarket offered the more specific bet option with the Friday closing price for Bitcoin.
This market will resolve to "Yes" if Bitcoin (BTC) reaches a price greater than 73,777.00 for the first time according to Binance's candlestick prices before May 25, 2024, 12:00 AM ET. Otherwise, this market will resolve to "No", according to Polymarket, which began offering the betting market on Tuesday. Polymarket does not accept real money bets from those in the U.S.
Bitcoin (BTC) surged over $71,000 early Tuesday, its highest since early April, as ether surged over 19% to $3,700 after Bloomberg analysts raised the probability that spot ETH exchange-traded fund (ETF) gets approved in the U.S. to 75%.
Other major crypto markets reaped the benefits, though with smaller gains. XRP, Cardano's ADA, Solana's SOL and dogecoin (DOGE) saw increases between 3-6%, as per CoinGecko data.
The sudden move up caused over $260 million in market-wide short liquidations, the biggest since Feb.28.
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