Definition

What is Up/Down market?

Up/Down markets are recurring crypto binaries asking whether an asset's price will be higher or lower at the end of a fixed window — commonly 5 minutes, 15 minutes or one hour. A new market opens every cycle, and its market and token identifiers change each time.

Also called: crypto up down · BTC up or down

Why it matters

The recurring structure is what makes these the usual starting point for automation: the strategy loop is identical every cycle, and a bot gets many independent trials per day instead of waiting weeks for one event to resolve.

The identifiers changing every cycle is the first thing that breaks naive bots. The active market's condition ID and token IDs must be discovered at runtime; hard-coding them means the bot trades a market that has already resolved.

The common mistake

Caching the market and token identifiers. They change every cycle, so a bot that stores them at startup spends the rest of the day placing orders against a market that has already resolved.

Go deeper

Related terms

Where this comes up

More

Browse the full glossary (32 terms), the strategy database, or the build guides.

Join Discord