Bitcoin surges toward $80,000: How high will it climb in August?

Bitcoin is knocking on the door of $80,000 following one of its sharpest rallies in years, but Kalshi traders are expecting it has more room to run as August draws to a close. 

The world’s leading cryptocurrency has now climbed nearly 24% in the last week of trading according to data from CoinGecko, pulling it to its highest price since May as it trades around $79,372 on Monday. 

The sudden move has dramatically changed expectations for where BTC may trade next, and how strongly it could close the month.

^{For informational purposes only. Not trading advice. See full disclaimer below.} 

Bitcoin surged, but still has room to run in August

Amid Bitcoin's rise, Kalshi traders now price odds of BTC hitting $80,000 at 87% on Monday morning. Further marks, like a stretch to $82,500, are also favored at 55% at the time of writing. 

The odds represent boosts of 84% and 48% respectively in the last week of trading. 

Despite the recent strength, traders do not foresee a further move to $85,000, pricing the marker at just 27% odds at the time of writing. 

Bulls revive Bitcoin's end of year forecast

The BTC spike has also impacted traders' end of year projections for the top crypto asset, pulling up the probability of higher price ranges in Kalshi's “Bitcoin price at the end of 2026” market.