Bitcoin's sharpest rally in five months flipped prediction market odds from bearish to coin flip—but long-term bets still price in a crash.

Bitcoin's steepest daily gain since March caught traders off guard, and Myriad's pump-or-dump market swung from 70-30 odds to even in a day.

Polymarket trading pushed the odds of bitcoin hitting the benchmark by the end of the year from 30% to 60% overnight.