U.S. strikes on Iran fail to stir bitcoin, on track for best month since November 2024
Bitcoin held steady despite a broader risk-off move after the first U.S. strikes against Iran for weeks sent oil higher and stocks lower. The cryptocurrency has gained 24% this month.
Bitcoin has remained steady despite increased tensions between the US and Iran, with the cryptocurrency gaining 24% this month. According to CoinDesk, the stability comes after a broader risk-off move sparked by the first US strikes against Iran in weeks, which sent oil prices higher and stocks lower.
Investing.com reports that Bitcoin fell 0.3% to $78,007.1 on Monday, extending losses from the weekend. The decline was attributed to hawkish comments from Federal Reserve Chair Kevin Warsh, which pushed up expectations for rising interest rates. Warsh's comments were seen as hawkish, with markets increasing bets on a potential rate hike in September.
Despite the short-term fluctuations, Bitcoin is on track for its best month since November 2023, with a 24% gain in August, as reported by CoinDesk and Investing.com.
Brief written by urgent.news from CoinDesk, Investing.com — 2 reports on this story. Machine-written — may contain errors; check the original before relying on it.
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