Overview
- On Thursday, Bitcoin reached a trading price of $71,556, marking an increase of 3.26% for the day and fluctuating within a range of $68,858 to $72,408.
- This rise follows an 8.7% jump observed on Wednesday.
- In the Myriad prediction market, the chances of Bitcoin either rising to $84,000 or falling to $55,000 are nearly evenly split, having shifted from a previous 70% lean towards the bearish outcome.
Bitcoin traded at $71,556 on Thursday, reflecting a daily increase of 3.26% as bullish traders seek to reverse a prolonged bearish trend. While market sentiment has noticeably changed, prediction market participants remain unconvinced about a sustained recovery.
This latest uptick extends Bitcoin's most significant rally in five months, with Wednesday's surge marking the largest single-day gain since March 4 and its peak price since June 1.
Myriad: What’s Bitcoin's next move? Make your prediction here.Prediction markets convert collective bets into real-time odds. On Myriad, operated by Dastan, the parent company of Decrypt, traders had shown a 70% inclination towards a drop to $55,000 just days ago. However, by Wednesday afternoon, the odds had narrowed to a near 50-50 split: approximately 52% favoring the bullish $84K outcome against 48% for the bearish $55K scenario.
Despite this skepticism, the sentiment is not consistent across all markets. For instance, Polymarket's leading 2026 price prediction market indicated a 56% chance that Bitcoin would hit $55,000 before the year's end, while only 51% believed it would reach $75,000. Meanwhile, on Kalshi, the likelihood of Bitcoin surpassing $67,500 in August was estimated at just 54%, with a mere 31% chance of hitting $70,000—both levels breached during Wednesday's rally. A separate contract on Polymarket projected BTC exceeding $75,000 in August at 47%, with around $12 million in trading volume.