Don't want to trade it yourself?
Our desk runs DEX portfolios on profit share.
Forecast Trend Report by Period
<a href="https://xpertsstudio.com/<a href="https://xpertsstudio.com/saylor-hints-strategy-ready-to-resume-bitcoin-buys/” title=”Saylor Hints Strategy Ready to Resume Bitcoin Buys”>bitcoin-may-be-quantum-safe-if-musk-backed-400-qubit-theory-holds/” title=”Bitcoin May Be Quantum-Safe If Musk-Backed 400-Qubit Theory Holds”>Bitcoin held above $77,000 even as renewed military tensions between the U.S. and Iran shook oil prices and global financial markets, showing greater resilience than gold and equities.
CoinDesk reported on Aug. 31 that Bitcoin was trading around $77,580 during Asian hours, with little movement since midnight UTC.
Risk appetite weakened across broader markets as tensions in the Middle East escalated. Geopolitical uncertainty increased after Iran retaliated following a U.S. attack on an Iranian island in the Strait of Hormuz, a key oil shipping route.
Oil prices climbed across the board. TradingView data showed West Texas Intermediate futures up about 2% at $85.10 a barrel, while Brent crude rose 1.9% to $92.39. Gold fell 0.8% to $4,418 an ounce, and Nasdaq futures slipped 0.5%. Major Asian stock markets also traded lower.
Bitcoin has still delivered stronger returns than other assets. The token has gained 23% this month, well ahead of gold’s 9% rise and the Nasdaq’s 4% advance over the same period. Major altcoins were slightly weaker, with XRP down 0.8% and Solana lower by 0.6%.
Recent strength in Bitcoin has been linked to inflows into U.S. spot exchange-traded funds and expectations for increased liquidity after the Treasury Department expanded its bond buyback program. U.S. spot Bitcoin ETFs posted $2.8 billion of net inflows over the past two weeks.
Uncertainty over U.S. monetary policy remains. Federal Reserve Chair Kevin Warsh said at the Jackson Hole symposium on Aug. 28 that inflation had not been contained enough and that current financial conditions could hardly be described as restrictive. He also said it was premature to conclude that underlying inflation pressures had eased meaningfully based only on recent improvements in price data.
Lloyd Chan, an FX strategist at MUFG, said U.S. rate expectations were recalibrated after Warsh’s remarks. Markets are now pricing in about a 58% chance of a rate increase in September. By year-end, roughly 1.5 rate hikes are reflected in market pricing.
In digital-asset markets, the U.S. employment report due on Sept. 4 is a key variable for the next move. Vikram Subburaj, chief executive officer of Giottus, said traders should avoid excessive leverage given elevated macroeconomic uncertainty. He put Bitcoin’s near-term support at $77,000 and identified the $79,400 to $80,800 range as a key resistance zone.
#Middle East Geopolitics
#Oil Price
#Bullish
#Trending Coins
BTC
XRP
SOL
Source: en.bloomingbit.io