Bearish Bitcoin Bets Rise as Polymarket Odds of Sub-$55K Reach 72%
Prediction market data shows rising bearish sentiment on Bitcoin as its market cap declines and liquidity signals weaken across the broader crypto market.
Wrapped Token
A wrapped token is a cryptocurrency that represents another asset on a different blockchain. It is backed one-to-one by the original asset and allows that asset to be used in decentralized applications on a blockchain it was not originally native to. For example, wrapped Bitcoin (WBTC) enables Bitcoin to be used on the Ethereum network. Wrapped tokens are created and managed through smart contracts or custodial arrangements. They maintain the value of the underlying asset while increasing interoperability.