What confuses our intuition in this case is the difference between probabilities of events in the future and events that already appeared (past). If all the coin tosses lay in the future, the probability of a straight sequence of H decreases the more coin tosses we plan to do. So for only one toss the probability of H is 1/2, for two tosses (HH) it is 1/4, and so on, so that e.g. for 10 tosses the sequence HHHHHHHHHH has a probability of around 0.001. (Mathematically, this is P(AB) = P(A) * P(B) for independent events A and B.)
The probability decreases with every toss we add, so we expect the likelihood for a T coming up next increases. But this is only true when all tosses lie in the future. In that case the space of possible events comprises all strings of H and T with a length given by the number of tosses we plan (2 ^ number_of_tosses members). The reason why the probability of a straight sequence of H's is so small with a large number of tosses is that it compares to all sequences where one or more T's appear anywhere in the sequence (and not just one at the end).
But this is not true when we already have a prefix string of H's as a given (past) (mathematically P(A|B)). This is because then the event space for the next toss is the one with only two members, H...HH and H...HT. And here the likelihood of the string of only H's is just 1/2. And it is so for any length of the prefix string (however unlikely it was to get such a prefix in the first place), because the event space for the outcome of the next toss always ever only has two members.