Bitcoin has surged near $74,000, a notable rebound despite being down 43% from its all-time high. Predictors on Myriad Markets now favor Bitcoin to "pump" to $84,000 before a potential drop to $55,000. This sentiment shift follows a more than 7.5% surge in Bitcoin's price over the past day.
While predictors are leaning bullish, market analysts are divided. Some suggest the worst is behind Bitcoin, while others doubt the recent rally's sustainability. These mixed signals are also impacting Ethereum, the second-largest crypto asset.
Despite positive inflows for Ethereum ETFs, reaching their highest mark in two months, predictors on Myriad Markets anticipate a bearish near-term trend, favoring a drop to $1,500 before any potential rise to $3,000. Short-term market expectations for ETH remain muted, with low odds for trading above $2,500 in March.
Longer-term outlooks for Ethereum are also cautious, with low probabilities projected for reaching $5,000 or a new all-time high. Ethereum is trading around $2,066, with some predictors suggesting it could be overtaken in market cap by another token this year.