Bitcoin Bears Emerge as Kalshi Traders Predict September Selloff

Bitcoin traders on Kalshi are increasingly bearish on the cryptocurrency's prospects for September. Traders assign a 53% probability that Bitcoin falls below $72,500 during the month and an 80% chance it drops below $75,000.

This pessimistic outlook is shared by CryptoQuant analyst Darkfost, who notes that apparent demand has turned negative again while short-term holders continue taking profits. Without a recovery in demand in the very short term, BTC could begin another leg lower, he warns.

Another analyst, Frank Hepworth of New Market Trading, agrees that $77,000 is the immediate level to watch. If Bitcoin loses it, he identifies $72,000 as the next target, followed by the 200-day moving average near $69,500.