During the last month, Bitcoin (CRYPTO: BTC), the world’s largest cryptocurrency, has seen a notable drop in price and market sentiment, declining nearly 30%, reversing much of its late-2025 gains.
Bitcoin fell below the $90,000 mark in January 2026 amid tariff threats, down from a high of over $1,25,000 last year.
Bitcoin reached close to $60,000, touching $60,074.20 on February 6 according to data from CoinMarketCap.
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Data from Kalshi, a federally licensed betting platform, shows that more than $680,000 has been wagered on the contract “When will Bitcoin go down in February?”
Currently, punters say the probability of BTC falling below $60,000 is 70%, an increase of 63%.
The probability of BTC falling below $57,500 is 53% according to bettors, up 48%. Bettors believe the probability of it falling below the $55,000 mark is 36%.
Even if it is lower, the probability of it falling below the $50,000 mark is 21% per prediction market.
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“Great Short” Michael Burrythe famous investor who bet against the US housing market during the 2008 financial crisis, has issued a warning to miners if BTC falls below the $50,000 mark in a recent Substack post.
According to a post shared by Yahoo Finance on X, Burry has said that miners will “go bankrupt” and be “forced to sell” their Bitcoin reserves if BTC falls below $50,000. He added that tokenized metal futures will “collapse into a black hole” without buyers.
Michael Burry believes a further fall in bitcoin could send miners into ‘bankruptcy’. pic.twitter.com/Nk4xEqdQNk
At the time of writing, BTC was trading hands at 64,730.58, down more than 9.21% in the last 24 hours.
Photo courtesy: Memory Stockphoto at Shutterstock.com
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This article How far can Bitcoin fall this month? Prediction markets see BTC hitting level Michael Burry says will cause miners to ‘fail’ originally appeared Benzinga.com
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