Bitcoin holds $78K as U.S.–Iran clash lifts oil

Bitcoin traded near $77,900 on Aug. 31 despite renewed fighting between the United States and Iran that pushed oil prices higher and pressured global equity markets. Summary Bitcoin held near $77,900 after U.S. strikes on Iranian launchers lifted oil and pressured equities. BTC gained roughly 23% during August, outperforming reported monthly gains for gold and Nasdaq equities. Brent crude climbed above $90 as renewed Strait of Hormuz fighting revived supply disruption concerns. September rate-hike probabilities rose after Federal Reserve Chair Kevin Warsh maintained a hawkish inflation stance. August employment data arrives September 4, providing Bitcoin’s next major test across macroeconomic markets globally. BTC was down approximately 0.4% over 24 hours, after moving between $77,162 and $79,343. The limited change contrasted with a sharper reaction across energy, bond and equity markets following U.S. strikes on Iran’s Larak Island. An unnamed U.S. official confirmed that American forces targeted two Iranian rocket launchers. The official claimed Iran’s Islamic Revolutionary Guard Corps was preparing rockets carrying sea mines for deployment in the Strait of Hormuz, according to ...