Bitcoin Price Prediction: BTC Breaks $80,000 Mark, What Does It Mean?

TradingKey - On August 24, Bitcoin (BTC) prices continued to fluctuate lower, edging up just 0.1% on the day to trade at $77,176. Last Friday (August 21), Bitcoin prices surged toward the $80,000 mark, peaking near $79,500 to set a new high in over three months before undergoing a downward correction.

Bitcoin's recent price trend has shown a significant rebound, mainly because the U.S. Treasury Department stepped up long-term Treasury buybacks on August 19, easing upward pressure on long-end interest rates and borrowing costs, injecting liquidity into overall risk assets, and driving the rebound in Bitcoin prices. On August 20, U.S. Treasury Secretary Bessent stated that "the single-operation cap for Treasury buybacks could exceed the $4 billion we previously announced." Following the news, Bitcoin's price accelerated its upward momentum. Currently, Bitcoin has stalled, requiring new catalysts to potentially break through the $80,000 threshold.

According to White House sources, the CLARITY Act may pass in September, providing a new catalyst for Bitcoin price increases. Patrick Witt, Director of the White House Crypto Council, stated at the annual SALT Conference in Wyoming that "(Congress) will vote on the CLARITY Act in mid-September," expressing an optimistic and bullish stance on the bill, while U.S. President Trump also urged Congress last week to pass the bill as soon as possible. In addition, the Federal Reserve's (Fed) next monetary policy and interest rate decision meeting (FOMC) will be held from September 15 to 16, 2026. If a rate-cut signal is released, Bitcoin prices could enter a new bull market.