This market will resolve to “Yes” if the BTC-USD spot price on Coinbase is strictly below 105,000 USD at any time during the calendar month of September 2025 (Pacific Time).

Specifically:

• The qualifying price must occur between September 1, 2025, 12:00 AM PT and September 30, 2025, 11:59 PM PT.

• Any tick, trade, or recorded price update on Coinbase showing BTC-USD below 105,000 USD during this period is sufficient to resolve “Yes.”

• If no such price occurs during this time window, the market will resolve “No.”

Notes:

• Price data will be sourced from Coinbase’s official historical trade data.

• Temporary spikes, wicks, or momentary lows do count as long as they are visible in Coinbase’s trade history.