Kalshi Traders Bet on Bitcoin Downturn Despite $77K Rally

Bitcoin's recent 20% weekly rally has pushed its price above $77,000, but Kalshi traders are tempering their expectations for the cryptocurrency by year-end.

Kalshi contracts, which track where Bitcoin will finish within $5,000 price bands using CF Benchmarks data for final settlement, have shifted from pricing Bitcoin at around $66,000 in December to now predicting a year-end price of $77,000.

This change suggests that traders on Kalshi see limited upside after the recent surge. The rally accelerated after President Donald Trump urged Congress to advance the CLARITY Act and CFTC Chairman Michael Selig directed agency staff to prepare rules for crypto markets if lawmakers fail to reach an agreement.