Bitcoin and ethereum prices today, Thursday, August 20, 2026: Crypto prices surge after President Trump pushes for Clarity Act

On Thursday, August 20, 2026, bitcoin and ether prices surged, with BTC closing at $68,746, up 6.28% and $4,060 on the day, and ETH closing at $2,124.2, up 10.83% and $207.6, according to CryptoNews. The rallies followed a Federal Reserve intervention on Wednesday to buy long-dated treasury bonds, as reported by CryptoDaily, and were also attributed by CryptoNews to President Trump's push for the CLARITY Act, a proposed SEC Regulation Crypto Assets framework, and strong ETF inflows. CryptoDaily noted that bitcoin rallied 12% over the period since the Fed intervention, while XRP spiked 20% in less than two days.

Background

The sources describe a market recovering from a prolonged downtrend. Bitcoin peaked near $126,000 last October before rolling over, with November and December cutting price toward $80,000. February brought a capitulation leg down near $59,000, and spring recovered to $82,000 by May before June erased it, with a low around $58,000. July and August built a base with rising lows. Ether peaked near $4,950 last September before a long unwind, with November and December cutting price toward $2,600, February dropping ETH near $1,780, spring recovering to $2,450 by May, and June marking a low around $1,480. July and August rebuilt slowly. CryptoDaily noted that bitcoin had been forming an inverse head and shoulders pattern during the bottoming process, with the right shoulder meandering sideways before Wednesday's spike completed the pattern. The sources also reference the CLARITY Act, which has cleared Senate Banking and remains positioned for Senate action, and the SEC's proposed Regulation Crypto Assets framework on August 18, which reduces policy uncertainty around U.S. crypto markets.

What happened

According to CryptoDaily, the US Federal Reserve intervened in the market on Wednesday, buying long-dated treasury bonds to stem higher bond yields. The market reacted positively, with bitcoin and altcoins, gold, silver, and US stocks all moving higher. CryptoDaily reported that XRP spiked 20% in less than two days, while bitcoin rallied 12% over the same period. The article noted that a breakout was already happening before the Fed started buying bonds, and the intervention added fuel to the fire. Separately, CryptoNews reported that U.S. spot Bitcoin ETFs attracted $297.5 million on August 17, reversing several sessions of outflows. On August 18, the SEC proposed its new Regulation Crypto Assets framework. The CLARITY Act, which has cleared Senate Banking, remains positioned for Senate action. CryptoNews also cited ChatGPT AI predictions for bitcoin at $95,000 to $110,000 by the end of 2026, with $102,000 as the base case, and Google Gemini AI predictions for ether at $3,200 to $4,200 by the end of 2026, with $3,500 as the base case. The bitcoin daily chart showed a close at $68,746, up 6.28% and $4,060, with a daily range of $64,113 to $69,749. The ether daily chart showed a close at $2,124.2, up 10.83% and $207.6, with a daily range of $1,904.9 to $2,132.2.

Market impact

Bitcoin closed at $68,746, up 6.28% and $4,060 on the day, with a daily range of $64,113 to $69,749, per CryptoNews. Ether closed at $2,124.2, up 10.83% and $207.6, with a daily range of $1,904.9 to $2,132.2. CryptoDaily reported that bitcoin rallied 12% over the period since the Fed intervention, while XRP spiked 20% in less than two days. U.S. spot Bitcoin ETFs attracted $297.5 million on August 17, reversing several sessions of outflows, according to CryptoNews. Bitcoin's RSI read 72.11 with its signal line at 50.75, a gap of more than 21 points, reflecting a violent momentum shift and overbought territory. Ether's RSI read 77.11 with its signal line at 54.97, a gap of more than 22 points, also overbought. Bitcoin support sits at $65,000, then $60,000 and $58,000, with resistance at $72,000, then $76,000 and $82,000. Ether support sits at $2,000, then $1,800 and $1,480, with resistance at $2,140 at the 200-day EMA, then $2,450 and $2,800. CryptoDaily noted that $76K is the measured move out of the inverse head and shoulders pattern, and that $73,750 is a horizontal resistance level to watch.

Why it matters

The sources suggest that the combination of catalysts could mark a shift in market sentiment. CryptoNews reported that three days in August did more for sentiment than the previous three months, and that the SEC's proposed framework reduces policy uncertainty around U.S. crypto markets. The CLARITY Act, if passed by the Senate, would further improve market confidence. CryptoDaily noted that bitcoin has possibly entered a new bull market, but three tick boxes remain: overcoming horizontal resistance at $73,750, reaching the last macro high at $83K, and official confirmation of a new bull market with a higher high beyond $98K. The sources also highlight risks. CryptoNews cited a bear case for bitcoin involving a renewed ETF-flow reversal and macro tightening, which could send BTC back toward $55,000 to $60,000. For ether, the main invalidation risk is macro drag, with technical resistance at the 200-day EMA near $2,140 and losing the $1,800 support zone risking a leg down toward $1,200. CryptoDaily warned that the daily chart is starting to look quite overbought and that a correction is becoming due at some point, possibly back to at least $70K to confirm support.