Finance

Bitcoin Bearishness: How Myriad Predictors Are Navigating the Crypto Downturn Amidst Trump’s Speech

Predictors turned bearish on Bitcoin, doubted Solana’s ATH, and favored Ethereum over gold at $5K.

October 16, 2025, 2:50 PM

Line graph showing the fluctuating price of Bitcoin over time.

As the value of Bitcoin fluctuates, investors watch the price chart with bated breath, hoping for a profitable trend. By MDL.

Executive Summary

Myriad predictors have turned bearish on Bitcoin, with odds favoring a fall to $100,000 amidst market downturns and a speech from President Trump.

Confidence in Solana reaching a new all-time high by year-end has significantly dropped to 34% due to underperformance, market decline, and ETF approval delays.

Despite gold’s significant headstart, Myriad predictors surprisingly favor Ethereum to be the first to reach the $5,000 mark, with 53% odds.

The Story So Far

The recent bearish shift in cryptocurrency markets, particularly for Bitcoin and Solana, is largely influenced by a significant $19 billion Bitcoin liquidation event, a broader market downturn, and specific regulatory hurdles like delayed Solana ETF approvals due to a government shutdown. This cautious sentiment is further compounded by lingering trade war uncertainties and an anticipated speech from President Trump, even as predictors surprisingly favor Ethereum over gold in the race to $5,000 despite negative ETH ETF flows.

Why This Matters

The notable shift in Myriad predictors’ sentiment signals a cautious and potentially volatile period for the crypto market, with Bitcoin facing increased bearish pressure and a higher likelihood of falling to $100,000 amidst trade war uncertainties. Concurrently, Solana’s prospects for a new all-time high have significantly diminished due to underperformance and ETF approval delays, while Ethereum paradoxically maintains a surprising edge over gold in the race to $5,000, reflecting a complex and selective confidence in digital assets.

Who Thinks What?

Myriad predictors have turned bearish on Bitcoin, with a 54% likelihood of it falling to $100,000, influenced by liquidation events and market uncertainties.

Myriad predictors have significantly reduced confidence in Solana reaching a new all-time high by year-end, with odds falling to just 34% due to underperformance and ETF approval delays.

Despite gold’s current lead, Myriad predictors surprisingly favor Ethereum over gold to be the first to reach the $5,000 milestone, assigning Ethereum 53% odds.

As cryptocurrency markets experienced a downturn on Thursday, predictors on the Myriad platform demonstrated a notable shift in sentiment, turning bearish on Bitcoin, expressing reduced confidence in Solana achieving a new all-time high, and paradoxically favoring Ethereum over gold in the race to reach the $5,000 mark.

Bitcoin’s Bearish Turn

Bitcoin’s immediate future is a subject of intense debate among Myriad predictors. After a significant $19 billion liquidation event last week saw BTC briefly dip below $106,000 before rebounding, it currently trades around $108,673.

Initially bullish, predictors have now flipped to favor Bitcoin falling to $100,000, with odds for this outcome standing at 54% in Thursday trading. This shift aligns with a Glassnode report suggesting a deeper contraction risk if Bitcoin remains in the lower end of the $108,000-$117,000 range, further complicated by lingering trade war uncertainties and a scheduled speech from President Trump later today.

Solana’s All-Time High Doubts

Solana has been underperforming its major crypto counterparts, experiencing a more than 13% drop in the last week to trade at approximately $190.50. This decline has significantly dampened Myriad predictors’ confidence in the asset reaching a new all-time high by year-end.

Odds for a new Solana all-time high have fallen by over 16% in the past week, now standing at just 34%. This marks a substantial decrease from last month when odds climbed as high as 68%. The broader market downturn and the delay in Solana ETF approvals due to a government shutdown are cited as contributing factors to this diminished outlook.

Ethereum Edges Out Gold in $5K Race

In an intriguing market on Myriad, predictors are weighing whether gold or Ethereum will be the first to hit the $5,000 milestone. Gold has seen a strong rally, pushing past $4,300 and holding a significant headstart over ETH.

Despite gold’s current price around $4,307, Myriad predictors are surprisingly favoring Ethereum, placing its odds at 53% to reach $5,000 first. Ethereum would require an approximate 25.5% increase to hit this target, compared to gold’s roughly 16% rise, even as ETH ETF flows have been negative for the week, contrasting with the ongoing “debasement trade” narrative favoring hard assets.

Market Sentiment Reflects Caution

Overall, Myriad users’ predictions reflect a cautious sentiment across the cryptocurrency landscape amidst current market slides. While Bitcoin and Solana face increased skepticism regarding upward momentum, Ethereum maintains a surprising edge against traditional safe-haven asset gold in the pursuit of a significant price milestone.