Kalshi Traders See Bitcoin Rally Fading
The crypto market saw its best week in months, with Bitcoin climbing more than 20% to its highest level since May. However, traders on Kalshi, a prediction market where people place real-money bets on future events, are not expecting the rally to continue.
According to the average forecast on Kalshi, Bitcoin's price will be around $75,000 by the end of 2026, which is slightly below its current trading price. This suggests that traders are treating the recent rally as a bounce rather than a launchpad for further growth.
The Treasury's move to calm the bond-market sell-off and President Trump's White House event with crypto-industry executives and regulators contributed to the rally. However, the market is not pricing in a huge finish to 2026, implying that the easy money has already been made.