The Dogecoin co-founder responded with "sigh" as traders on the prediction market platform priced in a higher chance of a near-term Bitcoin drop, even as some bets still pointed to a rebound above $65,000.
Dogecoin co-founder Billy Markus, known as "Shibetoshi Nakamoto" on X, gave a terse response to growing bearish bets on Bitcoin after engaging with a Polymarket prediction showing rising odds that the token could fall below $60,000 by the end of August. Markus replied "sigh" to a post from Polymarket, a prediction market platform, after it said Bitcoin had a 59% chance of dropping under that level; by the time of writing, those odds had risen to 63%. The reaction came as Markus had already characterized the current stretch as a typical crypto bear market, describing it as boring rather than panic-inducing. That framing points to a consolidation phase, where prices move sideways and market activity feels subdued rather than disorderly. Polymarket showed a mixed near-term outlook despite the bearish tilt. Traders were assigning a 42% chance that Bitcoin would rise above $67,500 in August and a 71% chance that it would trade above $65,000, while also putting a 37% chance on a drop below $57,500. Those levels suggest the market is still split over whether Bitcoin stabilizes or weakens further. Bitcoin was down 0.68% over the past 24 hours at $62,707 after falling as low as $62,210 intraday. The token slid over the weekend as momentum behind U.S. crypto legislation faded and earnings from Coinbase and Strategy disappointed, adding to signs that more speculative investors may be stepping back from riskier trades. Bitcoin is down about 30% this year, and most major cryptocurrencies were also lower. Dogecoin was down 0.67% in 24 hours to $0.069 and off 4.35% on the week.