Kalshi Traders Pin Hopes on $67.5K Bitcoin Price Target

Bitcoin is struggling to stay above $65,500 as it enters a typically weak month for the crypto market. However, prediction market Kalshi shows traders believe the price has a 54% chance of crossing $67,500 in August.

Kalshi traders' optimism is contrasted by the views of CryptoQuant analyst Joao Wedson, who suggests that Bitcoin may not have reached its bottom yet. This implies more downside could be ahead before the market stabilizes.

The current price gap between Bitcoin and the short-term holder realized price has narrowed to $2,571, with BTC trading at around $64,953. If the price reaches this zone, it could face a major test between buyers looking for a breakout and holders looking to exit near breakeven.