Traders Grow More Bearish on Bitcoin and Ethereum as Prices Decline
Traders on prediction markets become increasingly bearish on Bitcoin and Ethereum following a Federal Reserve meeting, causing both cryptocurrencies to drop about 5%. As price expectations shift, traders anticipate further declines, with Bitcoin potentially falling to $55,000 and Ethereum to $1,500, according to Decrypt.
On June 18, 2026, predictions on Myriad, a platform for forecasting price movements, indicate that traders are turning increasingly pessimistic about Bitcoin (BTC) and Ethereum (ETH). Following the Federal Reserve's latest meeting, where the newly appointed Chair Kevin Warsh maintained current interest rates, BTC and ETH experienced notable price declines of approximately 5%, trading near $62,499 and $1,682 respectively.
As uncertainty grows among traders, odds in Myriad’s “Pump or Dump” markets show a heightened expectation for a price decrease, with nearly 72% of traders predicting a fall for Bitcoin to around $55,000. This represents a more than 10% increase in the likelihood of such a decline over the past day. In contrast, Ethereum’s adjustment appears even steeper, with predictions now placing an 83% chance that ETH will drop to $1,500, compared to a much lower chance of rising to $3,000—a move it would need to increase by approximately 78%. This shift reflects an increase of 4% in the last 24 hours and over 23% over the month.
"At its current marker, BTC is in a high-value entry window," noted analysts at Bitfire Research, indicating potential for future upward movement despite current bearish sentiments. However, the overarching narrative suggests a more immediate focus on anticipated declines among Bitcoin and Ethereum traders.
As market dynamics evolve, traders and analysts will closely monitor future developments from the Federal Reserve, as well as any shifts in market sentiment that could influence trading decisions.
Summary based on original reporting by Logan Hitchcock at Decrypt, originally published Jun 18, 2026. SolanaWire does not republish source content.
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