Bitcoin briefly rose above $80,000 before pulling back, recently settling around $76,000. However, traders on prediction markets continue to bet on further upside this month, and market sentiment has not significantly weakened due to the pullback.
Kalshi bets point to $82,000
According to the prediction market platform Kalshi, as of September 3, traders on the platform are betting that Bitcoin will rise to $82,000 before the end of the month. Given its current price of approximately $76,000, this suggests the market anticipates about a 7% upside potential for the month.
This bet reflects that, despite Bitcoin's recent reversal downward, traders remain optimistic about its future movement. The recent multiple tests of the $80,000 level have further reinforced market expectations of additional upside.
August increase of nearly 25%
Bitcoin performed strongly in August, providing a key backdrop for the current optimism. Reports show that Bitcoin’s price was around $62,500 at the beginning of the month, rising steadily to finish the month with a cumulative gain of approximately 25%, and reaching a high of $81,138 during the rally.
After this round of rally, market sentiment has clearly improved. Even though prices have pulled back from their highs, traders still tend to believe that the current correction has not altered the overall bullish short-term outlook.
September's price movement remains under close watch.
The report also noted that some market analysts believe Bitcoin's recent sustained testing of $80,000 suggests it could potentially reach $82,000 in September.
Additionally, historical performance is considered one of the supporting factors. Bitcoin has risen every September over the past four years, and this seasonal trend further reinforces market optimism.
However, such predictions primarily reflect traders' current positioning and do not equate to a confirmed price trend. Moving forward, whether Bitcoin can reclaim $80,000 will remain a key focus for the market.