Bitcoin to slump to new lows after recent sell-off, traders predict
Bitcoin prices hit a new low on Tuesday, dropping to levels not seen since early April. The decline was triggered by Strategy, a crypto treasury company, selling off a portion of its bitcoin holdings. As a result, traders on the prediction market platform Kalshi believe that the cryptocurrency still has more room to fall during this current “crypto winter.”
According to Kalshi, there is an 80% chance that Bitcoin’s price will fall below $60,000 in 2026, which would mark a new low for the digital currency. In February, Bitcoin briefly dipped to $60,062 before rebounding. Traders also speculate that there is a 52% chance that prices will drop below $50,000 this year, a level not seen since August 2024.
Since reaching highs of over $120,000 last October, Bitcoin has plummeted by more than 45%. This week alone, the cryptocurrency has fallen by nearly 10%, with Bitcoin currently trading around $66,500. Traders on Kalshi have become increasingly pessimistic about the possibility of Bitcoin reaching six figures again in 2026, giving it only a 27% chance compared to nearly 50% odds in early May.
Meanwhile, traders on Polymarket see a slim 12% likelihood of Bitcoin reaching all-time highs in 2026. The uncertainty surrounding Bitcoin’s future price trajectory has left investors on edge, with many wondering when the cryptocurrency will regain its momentum.
It is important to note that CNBC and Kalshi have a commercial relationship that includes customer acquisition and a minority investment. For the latest updates and news on Bitcoin and other cryptocurrencies, make CNBC your preferred source on Google and stay informed about the latest developments in the world of digital assets.
