Polymarket odds for bitcoin breaking $100,000 by year's end surge to 57% following new all-time high

The Polymarket prediction market for whether bitcoin will break $100,000 this year surged after the token breached a new all-time high. 

As of 7:00 a.m. ET on Nov. 11, an individual share for "yes" on that prediction market cost $0.32. The same share reached $0.57 by 2:35 p.m. ET on the same day, reflecting a 78% increase. Bets on whether bitcoin will break $100,000 in 2024 surpassed $2.6 million in total trading volume with 57% odds of it occurring. 

Bitcoin increased 8.1% in the past 24 hours to trade at $86,512 as of 2:44 p.m. ET, breaking the $85,000 mark around 1:30 p.m. ET on Nov. 11. The cryptocurrency saw $88.4 billion in trading volume in the past day, but in the same time span saw $193.17 million in liquidations, according to the crypto liquidations tracker Coinglass. 

Polymarket is a decentralized prediction platform spearheaded by its founder and CEO, Shayne Coplan. By Nov. 11, Polymarket had amassed $6.01 billion in cumulative volume, largely spurred by predictions based on the United States 2024 presidential election between candidates Donald Trump and Kamala Harris. 

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