Solana Leads Altcoin Rally With 4.2% Gain As Bitcoin Eyes $120,000 By Year-End

Bitcoin's price has been a topic of intense speculation among traders and investors, with many eyeing significant movements by the end of 2025. Currently, Bitcoin is trading just above $105,300, while Ethereum holds above $2,618. Other major altcoins, including Solana, Dogecoin, Shiba Inu, XRP, BNB, and Cardano, have shown varying degrees of growth, with Solana leading the pack with a 4.2% increase.

Despite the recent rally, traders are not convinced that Bitcoin will remain around $100,000 for an extended period. Many are anticipating another breakout before the year ends. According to data from a blockchain-based prediction market platform, the most significant volume of trades is flowing into the $120,000 price bracket. As of early June, over $1.1 million has been wagered on Bitcoin ending the year at exactly $120,000, making it the most crowded bet on the platform. This implies a 73% chance of hitting that target.

Following closely is the $130,000 range, with $1.14 million in volume and implied odds of 61%. The $150,000 mark, which is significantly higher than current levels, has $1.6 million in volume but only a 37% chance of being reached. The odds and dollar volumes decrease sharply as the targets become more extreme. For instance, the scenario of Bitcoin crossing $1 million by year-end has drawn just $897,310 in wagers, representing a 3% chance.

Bets on a bearish turnaround are even less popular, with only $279,919 placed on a $20,000 outcome, indicating a 4% chance. Currently, most retail investors are banking on Bitcoin reaching six figures by the end of the year. While these bets imply significant upside, they are relatively conservative compared to the multi-hundred-thousand or even multi-million predictions from some of Bitcoin's most vocal advocates.

Michael Saylor, the founder of Strategy and executive chairman at MicroStrategy, has predicted that Bitcoin could hit $13 million within the next 21 years. This prediction is based on the idea that Bitcoin will capture a sizable share of global capital over time, aligning with its fixed supply of 21 million coins. Similarly, the founder of Twitter and Block CEO has predicted that Bitcoin's market cap will hit $20 trillion and the price will cross the $1 million mark by 2030. Block is backing this outlook with real dollars, investing 10% of gross profit from Bitcoin-related products into BTC every month and developing a hardware wallet and an end-to-end Bitcoin mining system. According to the CEO, the internet will eventually have a native currency, and it's just a matter of time.