Polymarket Traders Bet on Bitcoin Reaching $126,000 in October
Polymarket traders are betting on a high chance that Bitcoin (BTC) will hit $126,000 this October. Data from the platform shows $332,935 wagered on a 71% probability of this outcome. Additionally, $123,517 is bet on an 85% chance that Bitcoin reaches $124,000, and $123,351 on it hitting $122,000.
The optimism follows the “Uptober” momentum, which has boosted the crypto market since the start of the month.
Bitcoin Price Surges Above $120,000
At the time of this report, Bitcoin trades at $122,024. This marks a 1.52% increase in 24 hours and a 10% gain over the past week. Bitcoin’s market cap stands at $2.4 trillion.
Analysts expect the upward trend to continue. Geoff Kendrick, Standard Chartered’s Global Head of Digital Assets Research, predicts Bitcoin could reach $135,000 this quarter.
The $126,000 target is close to Bitcoin’s all-time high of $124,486, reached in August 2025. Traders believe reaching this level is likely soon given current momentum.
Market Risks and Liquidations
Not all traders are bullish. Over 141,500 traders lost positions in the last 24 hours across the crypto market. About $4.54 million in Bitcoin short positions were liquidated as the price rose, according to Coinglass.
Disclaimer: The Crypto Times does not endorse any cryptocurrencies or investment strategies. Readers should conduct their own research and consult licensed professionals before making financial decisions.
