Bitcoin traders flip bearish 🐻

Traders on prediction market Myriad turned bearish on Bitcoin's outlook as BTC dropped under $68,000 Tuesday.

Author

Stephen Graves
June 02, 2026

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📝 What you need to know

Bitcoin continued to slide lower Tuesday, slipping to a two-month low under $68,000—and prediction market traders have flipped bearish on its outlook. On Myriad, a prediction market owned by Decrypt’s parent company Dastan, users now expect Bitcoin’s next move to take it to $55,000 rather than $84,000.

The downward momentum has been fueled by negative catalysts including Bitcoin treasury firm Strategy’s first BTC sale since 2022—though analysts reckon it doesn’t herald a “watershed” moment for crypto treasury firms selling Bitcoin.

Other underlying factors are at play, including a massive exodus from U.S. spot Bitcoin ETFs, and overleveraged traders contributing to over a billion dollars in long positions liquidated over the past 24 hours.

Bitcoin Traders Flip Bearish as BTC Falls to Lowest Price in Months

Myriad predictors think it's increasingly likely that Bitcoin's next stop is $55,000 rather than $84,000 as BTC continues its slide.

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📊 Myriad Insight of the Day

Who IPOs first: Anthropic or OpenAI?
Anthropic 64%36% OpenAI
  
Why it matters
Anthropic confidentially filed an S-1 with the SEC Monday, the first formal step toward an IPO and coming days after a $65 billion Series H at a $965 billion valuation, per Decrypt. OpenAI had been the favorite—the Wall Street Journal reported in May that Sam Altman's firm was preparing its own filing for a September listing. Anthropic's move flipped the market from 32% to 64% in 24 hours.
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With Myriad, the on-chain prediction market launched by Decrypt’s parent company DASTAN, you can break the news and stake the news, using USDC and points.

🕵🏻‍♀️ Editor’s Picks

Will Strategy's Peers Dump Bitcoin Now? Not so Fast, Analysts Say

Crypto analysts say investors should look closely at each company's financial situation rather than expecting a cascade of incoming sales.

Anthropic Expands Access to Claude Mythos After AI Giant Files for IPO

Just a day after the nearly $1 trillion AI giant revealed IPO plans, Anthropic is letting more firms access its powerful Claude Mythos model.

Elon Musk's SpaceX Warns $1.75 Billion IPO Investors of Potential Future Share Dilution

SpaceX's amended IPO filing signals the company may issue substantial new shares in future transactions as Elon Musk expands its ambitions.

📚 Watch, Listen & Learn

📹️ WATCH: BTC Under 70K After Saylor Sells, Polymarket’s 'Strategy Sell' Drama, NEAR Up 15% on Day

🎧 LISTEN: The Decrypt News roundup with TylerD - June 2nd

Saylor sold some Bitcoin and markets hate it. And another major Polymarket dispute is brewing tied to his sell.

🎓️ LEARN: What Is Strategy (MSTR)? The Bitcoin Treasury Company

Software firm Strategy (formerly MicroStrategy) and its co-founder Michael Saylor have become synonymous with Bitcoin. Here’s what you need to know.

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