Prediction-market punters have swung sharply behind an $80,000 Bitcoin as a Treasury buyback announcement and fresh ETF inflows reignite the crypto rally.
Bitcoin (LSE: BTC) traders are piling into bets that the token will crack $80,000 before month-end, after odds on prediction platform Polymarket rocketed to 59% from just 2% a week earlier – a 57 percentage point swing that underlines how quickly sentiment has turned. The token itself was changing hands around $77,000 on Friday, up more than 21% since the start of August and its highest level since early June.
The repricing was triggered by a US Treasury announcement that it would at least double buybacks of longer-dated government bonds, a move that eased pressure across bond markets and revived appetite for riskier assets including crypto. Traders piled back in almost immediately, with Polymarket also lifting the odds of Bitcoin reaching $82,500 to 35% and $85,000 to 18%, though a run to $100,000 is still seen as a long shot at just 2%.
Institutional buying has added fuel to the move: US spot Bitcoin ETFs pulled in roughly $606 million of net inflows on Thursday alone, the strongest single-day intake since May, according to the article. Ether and Solana have also joined the rally, pointing to broad-based risk appetite returning across the digital asset market rather than a Bitcoin-only phenomenon.
The bounce follows a volatile stretch for crypto markets, and comes as investors weigh two looming catalysts: the Federal Reserve's Jackson Hole symposium, where rate-path signals could sway risk sentiment more broadly, and a US Senate vote on the CLARITY Act expected in September, which could shape the regulatory backdrop for digital assets.
With Polymarket pricing still favouring $80,000 rather than guaranteeing it, traders will be watching whether ETF inflows and macro signals from Jackson Hole sustain the momentum, or whether the rally stalls once the buyback-driven bond relief fades.
This report is based on Bitcoin’s announcement and coverage by Share Talk. Company announcements can be tracked via London Stock Exchange RNS and Investegate, and the full results calendar is worth watching for the next update.
This article is for general information only and does not constitute investment advice or a recommendation to buy or sell any security. Photo: Art Rachen on Unsplash.
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