Although Bitcoin has recently slumped below the $80,000 mark following a recent market correction that has caused Bitcoin to flip to the red territory, Kalshi traders are still bullish on the asset.
While optimism appears to have remained high, the latest data from the crypto market prediction platform Kalshi shows that traders are betting on further upside movements in Bitcoin this September.
Bitcoin to $85,000
It appears that Bitcoin has sustained the bullish momentum triggered by the August rally as investors' confidence in the asset remains strong even though its price is beginning to slow.
Notably, the data shows that traders on Kalshi are betting on Bitcoin reaching $82,000 before this month runs out, as of Saturday, September 5th.
With Bitcoin still showing a modestly strong price movement at around $79,000 as of the time of writing, the prediction from the traders is not entirely surprising, as it suggests that traders on Kalshi expect Bitcoin to surge by at least around 8% from its current level this month.
Bitcoin in September
Although the latest Bitcoin prediction on Kalshi shows that traders still believe in a further price rally despite the short-term correction in its price, this could further drive sustainable bullish momentum for the asset.
If the prediction comes true, it suggests that Bitcoin is likely to close another profitable month and extend the bullish trend seen last month, as September may likely close with a positive return if Bitcoin maintains momentum for longer.
While Bitcoin is constantly testing the $80,000 level, the asset is on track to surpass the $85,000 target this month.
Dan Burgin
U.Today Editorial Team
