Topline
Polymarket traders nearly doubled the odds of bitcoin reaching $80,000 by the end of 2026, placing bets on the benchmark as prices for the cryptocurrency surged past $70,000 overnight.
Bitcoin prices surged over $70,000 on Thursday.
Photo illustration by Chesnot/Getty Images
Key Facts
A proposition asking, “Will Bitcoin reach $80,000 by December 31, 2026?” spiked 26 percentage points Thursday morning, from about 30% to 57%, according to Polymarket data.
The rising odds came as bitcoin climbed 12% to over $72,000 on Thursday morning, reaching its highest level since early June.
The odds of prices hitting $85,000 also surged, up around 22 percentage points to 47%, with chances tapering the higher the target (30% for $90,000 and just 16% for $100,000).
The proposition asking, “What price will Bitcoin hit in 2026?” has garnered over $55 million in bets.
Why Are Bitcoin Prices Up?
The upswing from bitcoin came after President Donald Trump urged Congress to pass the CLARITY Act, a bill that would establish a pro-crypto regulatory framework if passed. Specifically, the bill divides oversight between the Securities and Exchange Commission and the Commodity Futures Trading Commission, giving the former agency supervision of investment contract assets and the latter agency supervision over digital commodities.
Big Number
27%. That is how much bitcoin prices have fallen since the start of the year, when prices for the cryptocurrency hovered around the $89,000 mark.
Key Background
Thursday’s jump marks a decent recovery for bitcoin prices after a turbulent June and July, which sent the cryptocurrency as low as $58,111. The dip marked its lowest price in nearly two years. The surge is also a reversal from the bearish outlook held in cryptocurrency prediction markets. On Wednesday, Polymarket traders put only a 31% chance of bitcoin topping $80,000 this year, according to Benzinga, which noted traders also priced a 75% probability for the cryptocurrency to fall below $60,000. SkyBridge Capital founder Anthony Scaramucci told CNBC on Tuesday that bitcoin’s volatility was muted after cryptocurrency miners redirected their computing power toward AI stocks.
Further Reading
Bitcoin Soars Above $70,000 After Trump Urges Passage Of Clarity Act (Forbes)