Bitcoin and ethereum prices today, Monday, August 31, 2026: Higher rate expectations pressure crypto prices lower

On Monday, August 31, 2026, the prices of Bitcoin and Ethereum experienced a decline due to higher rate expectations. Bitcoin opened at $77,695.48, which was 0.7% lower than the previous Sunday's opening price. By 9:06 a.m. ET, the price of Bitcoin rose to $77,999.80. Ethereum, on the other hand, began the day at $2,417.98, a 1.6% decrease from Sunday's opening price. As of 9:06 a.m. ET, Ethereum climbed to $2,453.78.

Despite the morning uptick, both cryptocurrencies were trading significantly lower than their opening prices from the previous Friday. Fed Chair Kevin Warsh's speech at the Jackson Hole meeting reiterated the Federal Reserve's commitment to lowering prices, emphasizing the committee's ongoing efforts.

The tense situation in the Middle East, with recent U.S. airstrikes on Iranian rocket launchers, contributed to higher oil prices, further fueling expectations of imminent interest rate hikes. Bitcoin's price at the start of the day was 0.7% below Sunday's opening price. Historical data shows that Bitcoin's all-time high was $126,198.07 on October 6, 2025, while its lowest point was $0.04865 on July 14, 2010.

Similarly, Ethereum's morning price was 1.6% below Sunday's opening. The all-time high for Ethereum was $4,953.73 on August 24, 2025, and its lowest point was $0.4209 on October 21, 2015.

Cryptocurrencies like Bitcoin and Ethereum function differently from traditional currencies, existing only in digital form and operating without government or banking oversight. They rely on a public digital ledger called the blockchain, which is decentralized across a global network of servers, ensuring peer-to-peer transactions with enhanced security and resistance to manipulation attempts.