Bitcoin Holds Steady as US Strikes on Iran Rattle Stocks and Lift Oil — SkimNews
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- Bitcoin traded around $78,623 on Monday, down just 0.7% over 24 hours, and is on track to close August with a gain exceeding 24% — its strongest month since 2017
- U.S. military strikes on Iran over the weekend revived fears over Strait of Hormuz shipping, sending West Texas Intermediate futures up 2.6% to about $85.60 a barrel
- U.S. equities fell alongside the geopolitical escalation, with the S&P 500 off 0.5% near 7,673 and the Nasdaq Composite down 0.4% near 26,289
- Fed Chair Kevin Warsh's hawkish Jackson Hole address pushed market-implied September rate-hike odds to roughly 58% from about 35% before he spoke
- Spot Bitcoin ETFs snapped a nine-day inflow streak, even as Ethereum funds kept drawing cash — Ether sat near $2,448, heading into month-end with a gain approaching 30%
- Nexo Dispatch analyst Iliya Kalchev pointed to derivatives data showing 24-hour volume more than doubling to $183 billion while open interest stayed roughly flat, arguing traders are reshuffling rather than committing fresh capital
- Gold pulled back to near $4,440 as the firmer rate outlook outweighed its typical safe-haven appeal
Why it matters: Bitcoin absorbing simultaneous pressure from a live U.S.-Iran escalation and a hawkish Jackson Hole pivot is a combined stress test the asset hasn't faced in a single session — and holding above $78K while the S&P 500, Nasdaq, and gold all sold off gives the digital-gold narrative fresh ammunition, even as spot ETF inflows broke a nine-day streak and derivatives positioning stayed flat.
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