Crypto’s biggest rally since 2023: With bitcoin price at high, here’s what history, Ray Dalio, and Kalshi predict comes next

The cryptocurrency market is experiencing a significant three-day rally, reminiscent of the surge seen in 2023. Bitcoin and Ethereum, along with crypto-linked stocks, are currently on the rise, with the week commencing on a strong note. Recent volatility, driven by concerns over the expanding U.S. deficit and inflation, has contributed to this upward trend.

The rally was fueled by the Treasury's increased bond buyback program and the ongoing efforts of President Donald Trump to pass the Clarity Act, a crypto-related bill. As reported by Fast Company, Trump has been actively supporting crypto-friendly policies during his second term, and his family has shown a personal interest in crypto investments.

Ray Dalio, founder of Bridgewater Associates, has cautioned investors about potential debt troubles within the next 3-5 years. In a LinkedIn post, Dalio expressed confidence in an inflection point in the government's financial situation, suggesting that investors should consider underweighting debt assets like bonds and overweighting gold and Bitcoin.

Current market figures reveal that Bitcoin (BTC) is trading at $79,912.92, nearly reaching the $80,000 mark, while Ether (ETH) is up over 2% to $2,493.61. Both prices have not been seen in months, despite the generally lackluster performance of cryptocurrencies in 2026. Additionally, crypto treasury stocks have also increased, with Strategy and Strive up 5%, Bitmine (BMNR) up 9%, and Sharplink (SBET) up over 6% at the time of reporting.

However, BTIG analyst Jonathan Krinsky pointed out that in January 2023, Bitcoin saw a 20% surge over three days, only to later fall back to its earlier 200-day moving average. Kalshi traders believe that the current Bitcoin rally may set the tone for the year's end, with prices remaining steady but not experiencing further growth.