Bitcoin Price Surges on Sentiment Shift, Hits 20-Year High

Bitcoin's price surged by over 20% in just three days, briefly topping $81,000 before retreating to around $80,000. The sudden gain has sparked speculation that Bitcoin could reach $100,000 by the end of the year.

The catalyst for this increase is a change in investor sentiment following a high-level crypto event at the White House on August 19. President Donald Trump expressed support for the Digital Asset Market Clarity Act and hinted at the U.S. government accumulating Bitcoin for its Strategic Bitcoin Reserve.

As a result, money started flowing back into spot Bitcoin ETFs, which recorded their best week since October 2025. However, experts caution that nothing fundamentally has changed in the investment thesis for Bitcoin, and the price increase is largely based on sentiment and new appetite for risk.

Data from prediction markets suggests that Bitcoin's chances of reaching $100,000 by the end of the year are slim, with a mere 25% chance. The majority of traders believe Bitcoin will end the year below $100,000, with around 45% predicting it will be below $80,000.