Kalshi traders think the bitcoin rally could end the year near current levels

Bitcoin's surge this week has been powered by two key catalysts: an intervention by the U.S. Treasury to ease a sell-off in the bond market — in turn, relieving pressure on risk assets — and an event at the White House where President Donald Trump, crypto executives and regulators pushed for Congress to approve the market structure Clarity Act proposal.

The outlook for where bitcoin will end the year has improved since the flagship crypto's rally. Before Wednesday, Kalshi traders saw it most likely that bitcoin would end the year around $66,000. 

However, speculators' latest forecast would represent a slight decline from the cryptocurrency's current trading levels. Bitcoin was last trading above $77,000. 

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