Over the past month, Bitcoin (CRYPTO: BTC), the world’s largest cryptocurrency, has seen a notable slide in price and market sentiment, declining nearly 30%, reversing much of its gains from late 2025.
Bitcoin dropped below the $90,000 mark in Jan. 2026 amid tariff threats, down from a high of over $1,25,000 over the past year.
Bitcoin reached near the $60,000 mark, touching $60,074.20 on Feb. 6 as per data from CoinMarketCap.
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Data from Kalshi, a federally authorized betting platform, shows that over $680K has been bet on the contract “How low will Bitcoin get in February?”
At present, bettors say that the probability of BTC going below $60,000 is at 70%, up by 63%.
The probability of BTC going below $57,500 is 53% as per bettors, up by 48%. Bettors think that the probability of it going below the $55,000 mark is 36%.
While low, the probability of it going below the $50,000 mark is 21% per prediction markets.
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“Big Short” Michael Burry, the investor who famously bet against the US housing market during the 2008 financial crisis, has issued a warning for miners if BTC falls below the $50,000 mark in a recent Substack post.
As per 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 the $50,000 mark. He added that tokenized metal futures will “collapse into a black hole” with no buyers.
Michael Burry thinks that a further decline in bitcoin could cause miners to go “bankrupt.” pic.twitter.com/Nk4xEqdQNk
At the time of writing, BTC was trading hands at 64,730.58, down over 9.21% in the last 24 hours.
Photo courtesy: Memory Stockphoto on Shutterstock.com
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This article How Low Can Bitcoin Fall This Month? Prediction Markets See BTC Touching A Level Which Michael Burry Says Will Make Miners ‘Bankrupt’ originally appeared on Benzinga.com
