Myriad Moves: Traders Flip Bearish on Bitcoin, But Bullish on Zcash

Bitcoin’s recent flirtation with the $100,000 mark—falling below that level for the first time in six months—has crypto traders and prediction market users changing their convictions of late. 

As bearish sentiment floods social media timelines and price action continues to move lower, predictors have flipped bearish in some of Myriad’s biggest markets this week. 

Here’s a look at some of the most interesting moves from the past week. 

(Disclaimer: Myriad Markets is a product of Decrypt’s parent company, DASTAN.)

Another Bitcoin all-time high in 2025?

Market Open: October 30
Market Close: December 29
Volume: $28.5K
Link: See the latest odds on the “Another BTC all-time high in 2025?”  market on Myriad

Bitcoin stormed to an all-time high above $126,000 last month as global investors of all kinds continued to embrace its story as “digital gold.” 

But amid record-breaking crypto liquidations and ongoing market uncertainty, it has slipped nearly 20% from its high, now changing hands at $101,261 on Thursday. 

Now, Myriad predictors are asked whether or not the top crypto asset can regain its perch and notch yet another new all-time high before the year draws to a close. 

As of now, they don’t think it will. 

Odds of “no” have jumped more than 21% in the last couple of days, now sitting at 66% against the creation of a new all-time high. 

The odds shift comes as professional investors begin to change targets as well. On Wednesday, analysts at Galaxy modified their year-end price target, dropping it from $185,000 to $120,000 as Bitcoin enters a new phase with more gradual growth. 

On Tuesday, Bitcoin traded below $100,000 for the first time since May before bouncing back, but it’s given in to weakness once more in the early trading hours on Thursday as traditional market indices slide. 

Technical analysis on Wednesday indicated that bearish exhaustion might be waning, but not enough for a strong breakout. 

Bulls that want to hedge their bets on Myriad can earn around 33% based on current odds if BTC doesn’t make a new all-time high this year. 

What’s Next? An end to the government shutdown or more certainty on a December rate cut could be a near-term catalyst for Bitcoin. 

Zcash above or below $469 on Monday, at noon?

Market Open: November 3
Market Close: November 9
Volume: $41.8K
Link: See the latest odds on the “ZCASH above or below $469 on Monday?” market on Myriad

While most crypto market participants are lamenting their holdings as prices tick lower, Zcash holders have had little to complain about. 

The privacy-focused token continues to defy the market, outperforming nearly every other major token in the space and grinding higher, eclipsing $500 this week for the first time since 2018. 

A new flash market on Myriad on BNB Chain asks users whether or not Zcash will be trading above $469 on Monday at noon. Right now, odds are overwhelmingly in favor with “yes,” trading at 74%. 

That represents a nearly 28% gain in just a few days of trading as Zcash continues its ascent, completely flipping the odds in Myriad’s market. On Monday evening, odds were reversed, with “no” trading around 72%.  

But Zcash is trading higher now, changing hands around $533 or 12% above the $469 marker for Myriad’s market. 

Some users see the token as an “alternative to Bitcoin,” Galaxy analyst Will Reeves wrote in an investor report this week. 

If that narrative continues to proliferate, then can Zcash maintain its strength in a weakening market? Predictors currently think so. 

What’s Next? This market closes on Sunday evening, prior to market resolution. 

PUMP market cap: Pump to $3 billion or dump to $1 billion?

Market Open: September 22
Market Close: Until resolution
Volume: $72.3K
Link: See the latest odds on the “PUMP market cap: Pump to $3 billion or dump to $1 billion?”  market on Myriad

Meme coin mania on Solana has subsided, but leading token launchpad Pump.fun is still generating millions in weekly revenue—much of which is being used to buy back its own PUMP token.

To date, the platform has more than $166 million worth of PUMP according to its fees dashboard, offsetting more than 10% of the total circulating token supply in the process.  

Despite the consistent buying pressure, PUMP currently trades around a $1.3 billion market cap, about 33% below the $1.97 billion market cap it debuted at when PUMP began trading shortly after its ICO. 

Now, predictors are asked whether or not the token is set up to pump to $3 billion, or dump to $1 billion.  

Predictors are currently leaning towards “dump,” giving odds of a move to $1 billion around a 73% chance as of Thursday afternoon. 

That mark has increased in the last week, jumping around 21% since October 30 as the PUMP token has followed broader markets lower. 

PUMP is down around 13% in the last week, and would need to rise in price by 129% to hit the $3 billion mark that acts as the upper range for the Myriad market. Nevertheless, as recently as October 29, predictors favored the move up. 

The platform just made it even easier to on-ramp funds to buy or create meme coins, but daily active trading addresses still sit well below this summer’s marks. 

What’s Next? Pump.fun airdrop details remain outstanding, but a stimulus for frequent on-chain meme coin traders could provide a catalyst to additional fees, revenues, and buy backs.