Is making USABO camp(top 20) good enough to be a spike for Ivy League colleges?

I am a sophomore who is looking to make it into top 20 in USABO either this year or next year. I am pretty confident in doing so and want to ask whether its worth spending 2+ hours per day doing so. I've heard from friends that making it into even upper tier Ivy League colleges is very likely if you get into camp in any of the major Olympiads, provided of course you have good grades, scores, recommendations, etc. I want to know whether that is indeed true and if so should I devote that much time on achieving camp because I haven't taken AP Bio yet(will take junior year). For what its worth I have a 3.95 unweighted GPA, about a 1560 out of 1600 on practice SATs, am an Eagle Scout, and have several other good extracurricular achievements(none as big as making USABO camp though).

Yes, making the USABO is likely a great spike. It's not enough that you don't have to care about anything else. But if you have an SAT > 1550, a good GPA, decent extracurriculars, USABO will ensure you have at least a 50% chance at the top schools.