Bitcoin Holds Steady as US Strikes on Iran Rattle Stocks and Lift Oil
Bitcoin is holding up well above $78,000 despite fresh U.S. strikes on Iran, higher oil prices, and weaker equities. It traded near $78,623, down only 0.7% on the day after briefly touching about $77,162, and is still on pace for a more than 24% August gain, its best month since 2017. Risk assets were pressured by renewed fears over Middle East shipping disruptions, with WTI crude up 2.6% to around $85.60, while the S&P 500 and Nasdaq fell. A hawkish Jackson Hole message also lifted expectations for a September Fed rate hike to about 58%, adding to market stress and even weighing on gold. Bitcoin’s relative stability is being read as a stronger signal than its monthly rally alone, with derivatives data suggesting repositioning rather than heavy new buying. Ethereum was also firmer on the month, up nearly 30%. Markets now look to Friday’s U.S. jobs report and September 11 CPI data.
