Here’s what Polymarket thinks about the next cryptocurrency cycle

Traders have started placing bets on Polymarket regarding the next crypto market cycle, ranging from Bitcoin’s next all-time high to possible airdrops occurring in the second quarter of 2025. As of May 16, a majority of bettors believe that Bitcoin ( BTC ) will land somewhere between $110,000 to $130,000 this year. Around 87% of traders have placed bets, amounting to $1.7 million in volume, on BTC hitting $110,000 this year. However, another 72% believe the largest cryptocurrency by market cap could soar as high as $120,000. Meanwhile, another 67% of bettors predict Bitcoin could reach $130,000 by this year. At press time, Bitcoin is trading hands at $103,953, having gone up by 1.6% in the past 24 hours. In recent weeks, it has been in an ongoing rally fueled by the latest trade agreement between the U.S. and China. It recently surpassed $105,000 on May 12 but has not made any other new breakthroughs. So far, BTC reached its previous all-time high on Jan. 20, 2025, when it surged to $108,786. Its current price is still 4.4% lower than its all-time high . Aside from Bitcoin, Polymarket bettors have also predicted the Hyperliquid token, HYPE ( HYPE ), could jump as high as $28 before June 2025. Around 62% of traders have placed bets worth a total of $1,349 in volume on HYPE reaching $28 before June. Meanwhile, another 38% of bettors believe it could reach $30 before June. At the moment, Hyperliquid’s token stands at $26.73. In the past 24 hours, HYPE reached its peak at $27. The token reached its previous all-time high in December last year, when it rose to $34.96. Since then, the token has failed to recover past the $30 mark, plummeting as low as $10.27 in early April. Lastly, another Polymarket betting pool predicted the AI-inspired FARTCOIN ( FARTCOIN ) could reach $1.50 before June. Around 75% have placed bets on the meme coin hitting $1.50, while nearly 20% believe the token could reach $2 before June. According to data from crypto.news, FARTCOIN has gone up by 0.17% in the past 24 hours. It is currently trading hands at $1.28, declining slightly from its daily peak at $1.35. The last time the meme coin was able to reach $2 and $1.50 respectively was last January. It has since failed to climb back to its previous peak. Polymarket airdrop predictions for Q2 2025 According to a Polymarket betting pool titled “Airdrops in Q2 2025,” trader placed bets on which projects they believe has the highest chance of holding an airdrop event for its holders by June 30 this year. Polymarket now thinks Linea is the most likely project to hold an airdrop event by Q2 2025. It leads the charge with 40% of traders betting on an airdrop event. The second-most likely project to airdrop native tokens is the Ethereum ( ETH ) wallet Rainbow at 34%, followed by the meme coin launchpad Pump.fun with 28%. In early April, Linea’s product head, Declan Fox, said the project plans to wait for the bear market to pass before it will launch a Token Generation Event.