Bitcoin has pulled back to around $76,000 after briefly touching the $80,000 level, but traders and analysts are maintaining an optimistic tone for September. Following a strong August rally, prediction market Kalshi says traders are betting on Bitcoin reaching $82,000 before the end of the month, implying a roughly 7% increase from current levels.
The leading cryptocurrency gained approximately 25% in August, climbing from about $62,500 to above $78,000 and recording an intra-month high near $81,138. LMAX Group market strategist Joel Kruger noted that this was Bitcoin's strongest August performance since 2017 and its highest monthly gain since November 2024. The rally came despite rising bond yields, a stronger US dollar and renewed geopolitical risks that typically pressure risk assets.
Kruger identified the $80,000 to $82,820 range as a significant resistance zone. He said a sustained move above that area could revive a push toward $100,000, while near-term consolidation remains possible. He added that upcoming US macroeconomic data, especially employment figures and signals on the Federal Reserve's interest rate policy, could determine Bitcoin's direction.
The combination of bullish prediction-market positioning and the focus on key resistance levels suggests traders are watching whether Bitcoin can convert August's momentum into another leg higher.
