Polymarket traders have bet on a high probability that Bitcoin (BTC), the largest crypto currency in the world, could reach $126,000 in October.
According to data from the betting platform, about $332,935 worth of bets are inplace on a 71% chance that this happens, with another $123,517 bet on 85% odds that it reaches $124k this month and $123,351 on chances of its reaching $122k.
However, there’s high hope that the token will hit $126k following the optimism of the “Uptober” momentum which has seen the crypto market perform well since the beginning of the month.
Bitcoin surge above $120k
At the time of writing this report, Bitcoin is trading for $122,024. This is a 1.52% surge in the last 24 hours adding to a 10% gain in the last 7 days, as its market cap sits at $2.4 trillion in volume.
However, analyst momentum doesn’t expect the momentum to die yet. In fact, Standard Chartered’s Global Head of Digital Assets Research, Geoff Kendrick, reached $135k this quarter.
This outlook seems to be in line, as $126k is just $1,514 above Bitcoin’s all-time high of $124,486 which it hit in August 2025. And given the current momentum, traders believe reaching this milestone is just a matter of time.
Meanwhile, not everyone is bullish. In fact, over 141,500 traders lost their positions in the overall crypto market over the last 24 hours. About $4.54 in Bitcoin short positions were liquidated as the price kept climbing, according to Coinglass.