- Bearish sentiment: Polymarket shows rising odds of Bitcoin dropping below $60,000, prompting Markus’ one-word reaction.
- Mixed forecasts: Traders also see a chance of $BTC rising above $65,000 or $67,500, underscoring uncertainty.
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Market weakness: $BTC and Dogecoin continue to slide amid fading legislative momentum and weak corporate earnings.
Dogecoin co-founder Billy Markus offered a brief but telling response to new bearish chatter surrounding Bitcoin, reacting with a single word that captured the mood of many traders watching the market drift lower. His comment surfaced as prediction markets showed rising expectations that $BTC could slip under $60,000 before August ends.
sigh
— Shibetoshi Nakamoto (@BillyM2k) August 3, 2026
Markus Reacts to Polymarket’s Bearish Odds
Markus, known as “Shibetoshi Nakamoto” on X, replied “sigh” to a Polymarket post highlighting a 59% chance that $BTC might fall below $60,000 this month. The platform shared a screenshot showing traders increasingly positioning for a downside move. Markus’ reaction echoed the fatigue felt across the market, where prolonged uncertainty has replaced the sharp swings that often define crypto cycles. He has recently described the current environment as “boring,” framing it as a typical bear phase rather than a moment of panic. That sentiment aligns with the flat price action seen across major assets, including Bitcoin, which has struggled to regain momentum.
Traders Split on August Price Scenarios
Polymarket’s odds shifted further at the time of writing, with the probability of Bitcoin dropping below $60,000 rising to 63%. Yet traders remain divided. The platform also shows a 42% chance of Bitcoin climbing above $67,500 and a 71% chance of it pushing past $65,000 in August. Additional downside levels are in play as well, including a 37% chance of Bitcoin falling below $57,500. These mixed signals underscore a market searching for direction, with participants weighing both macro pressures and fading enthusiasm around recent US crypto legislation.
Market Slump Extends Across Major Assets
In the last 24 hours, Bitcoin traded down 0.68% to $62,707 after dipping to $62,210 intraday. The weekend brought further weakness, driven by disappointing earnings from Coinbase and Strategy, adding to concerns that speculative traders may be stepping back from riskier assets. Bitcoin is now down roughly 30% on the year, mirroring declines across several major cryptocurrencies. Dogecoin also slipped, falling 0.67% in the past day to $0.069 and dropping 4.35% over the week, reinforcing the broader cooling trend across the market.
