On February 1, three linked wallets, likely owned by the same individual, began trading on Polymarket and have since made a profit of $2.35 million in just one month by betting on Bitcoin’s price movements. These wallets focused primarily on ‘No’ positions regarding Bitcoin’s decline, reflecting a strategic approach to leverage the cryptocurrency’s sustained price strength. Polymarket operates as a prediction market that enables traders to place directional bets on whether Bitcoin, as well as other cryptocurrencies like ETH and SOL, will reach specific price milestones or avoid dips within set timeframes.
Polymarket traders make $2.35M betting on Bitcoin price moves in February
