Bitcoin Faces Significant Downturn Amid Macroeconomic Pressures

The cryptocurrency market, particularly Bitcoin (BTC), has recently undergone a substantial correction, with prices falling by 21% from recent highs. This downturn has prompted market analysts to pinpoint critical support thresholds for BTC, specifically between $98,000 and $85,000. Factors contributing to this decline include a strengthening US dollar and a general tightening of liquidity across the broader financial markets. Traders are pivoting, and the question remains how low Bitcoin could potentially go as these macroeconomic pressures persist, with experts closely watching these identified support zones.

Prediction Markets Prove Accurate in NYC Mayoral Election

In a separate development, prediction markets once again demonstrated their forecasting accuracy by correctly anticipating Mamdani's victory in the New York City mayoral election. With just over half the votes tallied, Mamdani secured the position, a result that had been widely predicted by these decentralized markets and supported by various progressive groups rallying behind his campaign. This event underscores the growing relevance and predictive power of crypto-based prediction platforms in offering insights into real-world political outcomes, complementing traditional polling methods.