Seventy-five percent of users on the prediction platform Polymarket believe the price of Bitcoin will drop to $55,000. The total amount wagered on this outcome has reached $1.2 million.
Source: Polymarket.Traders are also betting on a decline below $50,000 and $45,000, with probabilities of 62% and 47%, respectively. The trading volumes for these contracts are $173,473 and $1.4 million.
On February 23, Bitcoin's price fell below $65,000. At the time of writing, the asset is trading at $66,223, down 2.6% in the last 24 hours.
15-minute BTC/USD chart from Binance. Source: TradingView.Bitcoin's market capitalization has fallen to $1.32 trillion, dropping it to 14th place in the global rankings of the largest corporations.
Source: 8marketcap.Since the beginning of the year, the asset has lost approximately $440 billion, or 25%. The total cryptocurrency market capitalization has decreased by about $760 billion, or 24.5%.
Experts at Standard Chartered have predicted that the cryptocurrency could fall to $50,000 before potentially rising to $100,000. Analysts at CryptoQuant identified the $55,000 mark as the "final bottom of the market."
Pierre Rochard, Vice President of Riot Platforms, called Bitcoin "the most undervalued asset in the world."
Bitcoin continues to be the most undervalued asset in the world.
— Pierre Rochard (@BitcoinPierre) February 23, 2026
Institutional investors share this view. A Coinbase survey revealed that 70% of respondents believe the asset's value is undervalued in the range of $85,000 to $95,000 when compared to precious metals and stocks.
Additionally, analysts at K33 Research suggested that the drop of the first cryptocurrency to $60,000 on February 6 marked a local bottom before a consolidation phase.