Bitcoin traded near US$77,580 during Asian hours on August 31 after a US attack on an Iranian island in the Strait of Hormuz

The attack pushed oil prices higher and weighed on stock futures.

WTI crude rose nearly 2% to US$85.10 a barrel, and Brent gained 1.9% to US$92.39, while Nasdaq futures slipped 0.5%. Among major crypto tokens, XRP fell 0.8%, and Solana dropped 0.6%.

Bitcoin was still up 23% in August, compared with a 9% gain for gold and a 4% rise for the Nasdaq.

MUFG, a Japan-based banking group, said markets were pricing in a 58% probability of a September US rate hike after Federal Reserve Chair Kevin Warsh spoke at Jackson Hole and signaled that inflation remained insufficiently contained.

🔗 Source: CoinDesk