Polymarket traders have bet on a high probability that Bitcoin (BTC), the largest cryptocurrency 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.
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.