Bitcoin rally lifts prices
The Bitcoin rally surged with an intraday rise of 8.7% to $69,749, reaching the highest price since June 1 and recording the steepest one-day gain since March 4. The move flipped market sentiment from broadly bearish toward a coin‑flip state of heightened uncertainty as traders and prediction markets rapidly adjusted positions across crypto and related equities during the spike. Liquidations wiped out $1.14 billion in shorts in an hour, with Bitcoin accounting for $677.64 million, while crypto-linked stocks posted double-digit intraday gains on the day overall.
The Bitcoin price prediction markets have witnessed significant shifts in expectations following the recent rally. Myriad’s market odds transitioned from a strong 70% likelihood of a price decline to nearly even odds, with a 51.9% chance of Bitcoin stabilizing at $55,000 and a 48.1% likelihood of reaching $84,000. Meanwhile, Polymarket’s forecasts indicate a 56% probability for Bitcoin to touch $55,000 by the year’s end, alongside a 51% chance of it hitting $75,000. In parallel, Kalshi traders assessed a 54% likelihood of Bitcoin surpassing $67,500 in August, with a subsequent 31% chance of crossing the $70,000 threshold. Both these targets were achieved during the recent rally, reflecting the volatile yet optimistic sentiment within the market.
Long-end U.S. Treasury buybacks are set to double from $2 billion to $4 billion per operation starting September 9. That planned increase in long-end buybacks was part of the market context during the Bitcoin rally. The adjustment in Treasury operations was one of several macro and policy developments noted alongside rapid price moves in crypto markets.
CoinGlass reported $1.14 billion in shorts wiped out across crypto in a single hour, with Bitcoin accounting for $677.64 million. The liquidation event occurred during the same period as the price surge. The rally also coincided with a White House meeting between crypto executives and regulators and with a fresh SEC proposal easing registration rules for some digital-asset offerings. On the day, Strategy rose nearly 12%, Coinbase gained about 9%, and Circle and BitMine each increased roughly 9–10%. These contemporaneous developments were reported alongside the intraday spike in Bitcoin prices.
On the day of the Bitcoin rally, Strategy shares rose nearly 12% while Coinbase gained about 9%. Circle and BitMine each increased roughly between 9% and 10% on the same day. Those gains were recorded alongside the intraday spike in Bitcoin prices and were included in market summaries of the rally. Reported moves in these crypto-related equities occurred during the period when prediction markets and liquidations were also shifting.
These percentage changes were the reported intraday performance for the named firms during the rally. No other stock performance details are provided here. The figures reflect the day’s market reports covering Bitcoin’s price spike.
The Bitcoin rally represented a significant market shift that reshaped short-term price expectations, market behavior, and the performance of crypto-related equities. Prediction markets adjusted odds, liquidation events and trading activity increased, and crypto-linked stocks posted notable intraday gains, collectively altering the market’s near-term landscape. Those shifts were reflected across trading venues and prediction platforms during the episode.
