Bitcoin traded at $71,556 on Thursday, up 3.26% on the day, extending its sharpest rally in five months as bulls tried to break a bearish trend for the first time in months. Yesterday’s gain was Bitcoin’s strongest one-day jump since March 4 and pushed the price to its highest level since June 1. Prediction markets, which convert crowd bets into live odds, have not fully embraced the move. On Myriad, run by Decrypt’s parent company Dastan, traders had leaned about 70% toward a drop to $55,000 just days earlier, but by Wednesday afternoon the market had shifted to roughly 52% for a rise to $84,000 and 48% for a decline to $55,000. Polymarket’s flagship 2026 market last week showed a 56% chance of Bitcoin touching $55,000 before year-end and 51% odds of reaching $75,000. Kalshi traders had assigned Bitcoin a 54% chance of clearing $67,500 in August and 31% odds of reaching $70,000, although Wednesday’s rally surpassed both levels. A separate Polymarket contract priced the chance of Bitcoin exceeding $75,000 in August at 47%, with about $12 million in volume. Near-term markets were squeezed while year-end markets barely moved, as prediction markets set volume records and traders increasingly used them to hedge real positions. Bitcoin’s next technical levels are $70,284, the lower edge of a resistance band, followed by $73,245 if it closes above that level; a drop below $68,000 could return it to the range that has contained it since June. Myriad resolves when Binance’s $BTC/USDT spot price touches either $84,000 or $55,000, and its current odds put a bullish outcome at 52%, leaving traders cautiously optimistic despite the two-day rally.