Bitcoin jumps 11.86% to $71,970, still −37% on the year
Bitcoin rose 11.86% to $71,970.80 and cleared $70,000 for the first time since June. Over a year it is 37.01% lower. Figures with sources. 20-08-2026.
Bitcoin stood at $71,970.80 at 6.15 a.m. ET on 20 August 2026, up $7,631.47 or 11.86% in 24 hours. That is the first level above $70,000 since June, putting the market capitalisation at roughly $1.33 trillion. Measured over a year, bitcoin is still 37.01% lower.
Two days earlier, the market gave this a whole year
On 18 August, the prediction market Kalshi put the highest odds on a year-end 2026 close between $65,000 and $69,999.99. That is the band bitcoin passed through on 20 August — with more than four months still to run.
This is not a criticism of Kalshi. Prediction markets are a snapshot of what traders will commit to at that moment, and the snapshot changed completely in two days. It is a useful reminder of how little a price target is worth, including one with money behind it.
The numbers side by side
Those last two lines belong here. A day of almost 12% reads as a turning point, but the price is still 44% below its October 2025 level and more than a third below where it stood a year ago. Both things are true at once.
Where the move came from
The recovery began a day earlier. On 19 August the American bitcoin ETFs took in $517.19 million, the biggest day since 4 May, of which $284.7 million went to BlackRock IBIT alone. We wrote about that yesterday.
Two policy items are also on the table: the SEC's Regulation Crypto Assets proposal of 18 August, and the expansion of the American buyback programmes for long-dated government debt.
What this means for a European investor
For anyone counting in euros, the picture differs from what the dollar headlines suggest: the exchange rate moves too, and a rise of almost 12% in dollars is rarely exactly 12% in euros.
Beyond that, this is a good day to do nothing. A move of this size mainly draws the attention of people who missed the last one, and that has historically been the worst moment to make a decision you had not already made.
Who this is not good news for
Anyone short with borrowed money was probably stopped out overnight. And anyone who bought the October 2025 top is still more than 44% under water after this rally. One strong day does not change that.
Frequently asked questions
Is bitcoin in an uptrend again?
One day is not a trend. Over a month bitcoin is up 11.02%; over a year it is down 37.01%.
Why is the yearly comparison so negative after such a large gain?
Because the price was $114,259.37 a year ago. Today's rally takes it back above $70,000, not back to that level.
What was the all-time high?
$128,198.07, on 6 October 2025.
Should I buy now?
That is not a question this article answers. Cryptocode does not give investment advice; what you get here are figures with a source and a date.
Sources
- Fortune, Current price of Bitcoin for Aug. 20, 2026, with price, daily, monthly and yearly change and market capitalisation. Verified 20-08-2026.
- The Cryptonomist, ETF inflow figures for 19-08-2026, published 20-08-2026. Verified 20-08-2026.
- Yahoo Finance, price report 18-08-2026, with the all-time high ($128,198.07 on 06-10-2025) and the Kalshi band for end-2026. Verified 20-08-2026.
Further reading: compare exchanges holding a European authorisation, the CASP register and the beginner's guide.