Bitcoin will likely hit a new all-time high, and Strategy will accumulate more BTC soon, speculators on Polymarket expect.
By Wahid Pessarlay
Editor Julia Sakovich
Updated
3 mins read
From Bitcoin BTC $96 611 24h volatility: 2.1% Market cap: $1.92 T Vol. 24h: $29.09 B to altcoins to meme coins, the crypto market witnessed a sudden rush after the US Consumer Price Index data was revealed yesterday, May 13.
The US inflation rate came at 2.3% year-over-year for April, while many analysts predicted the number to stay at March’s 2.4%, according to Investing.com’s data.
As expected, the declining inflation rate brought upward momentum to the cryptocurrency market. The global crypto market cap rose from $3.25 trillion to $3.40 trillion in less than 12 hours on May 13, according to CoinMarketCap data.
The CMC fear and greed index leaned more toward the bullish zone, currently sitting at 74.
The leading crypto asset, Bitcoin, surged from $103,000 to $105,000. The market movements show that the altcoin accumulation outperformed the digital gold.
The US inflation report has shown to have a high influence over the crypto market. This time, it was a strong bullish catalyst, compensating for the six-week selling pressure triggered by Trump’s “Liberation Day” — the day of implementing reciprocal tariffs on world economies.
According to data from Polymarket, a decentralized market prediction platform, more than 80% of the bettors on the Bitcoin price believe the asset will reach a new all-time high in May.
Data shows that 50% expect BTC to break the $110,000 mark while 25% aim for $115,000. Of this tally, 5% believe that Bitcoin can break $125,000 before June.
In another poll, Polymarket users expect Strategy (formerly MicroStrategy) to accumulate more Bitcoin before May 20. The odds of another accumulation by the business intelligence company have reached 90%.
Bitcoin would need to break the $106,000 mark and hold above the $103,000 support to strengthen its momentum toward another ATH.
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Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Wahid has been analyzing and reporting on the latest trends in the decentralized ecosystem since 2019. He has over 4,000 articles to his name and his work has been featured on some of the leading outlets including Yahoo Finance, Investing.com, Cointelegraph, and Benzinga. Other than reporting, Wahid likes to connect the dots between DeFi and macro on his newsletter, On-chain Monk.
