Bitcoin traded near the $78,000 level on Monday as renewed military exchanges between the United States and Iran lifted oil prices and pressured global equity markets. The digital asset remained little changed in early trading despite the geopolitical developments that revived concerns over energy supply routes through the Strait of Hormuz.

U.S. Strikes and Iranian Response

U.S. forces carried out strikes on two Iranian rocket launchers on Larak Island in the Strait of Hormuz. Officials described the action as a limited and precise response after detecting preparations by Iran’s Islamic Revolutionary Guard Corps to deploy sea mines in the waterway. The operation marked the first direct attack on Iranian targets since late July.

Iran responded by launching multiple ballistic missiles toward U.S. bases across the Middle East. Reports indicated that nearly all incoming missiles were intercepted, with no significant impacts recorded. U.S. Central Command rejected Iranian characterizations of the American strikes as an act of aggression, stating the action targeted forces posing an imminent threat to shipping.

The Strait of Hormuz remains a critical chokepoint handling a substantial share of global oil and liquefied natural gas shipments. Any sustained disruption there has historically fed quickly into energy prices and broader risk sentiment.

Oil Prices Climb Above Key Threshold

Brent crude futures rose more than 2 percent, trading above $90 per barrel during the Asian session. Levels cited included moves to approximately $90.51 and higher readings near $92. West Texas Intermediate gained a similar percentage to trade above $85 a barrel.

The advance reflected renewed market focus on potential interruptions to energy flows. Oil had already shown sensitivity to earlier phases of the regional conflict, and the latest exchange reinforced supply-risk pricing.

Equity markets moved lower in response. Nasdaq futures declined between 0.5 percent and 0.7 percent in early readings, while Asian stock markets broadly weakened. Gold also retreated roughly 0.8 percent to around $4,418 per ounce, failing to attract sustained safe-haven demand.

Bitcoin’s Relative Resilience

Bitcoin traded around $77,500 to $78,000, showing limited directional movement compared with the sharper reaction in oil and equities. One reading placed the price near $77,580 with little change from midnight UTC, while other snapshots showed a decline of roughly 0.4 percent over 24 hours after a session range between approximately $77,162 and $79,343.

The cryptocurrency has advanced about 23 percent during August, outpacing reported monthly gains of roughly 9 percent for gold and 4 percent for the Nasdaq. Other major digital assets underperformed, with XRP down about 0.8 percent and Solana lower by around 0.6 percent.

Trading volume rose notably, and Bitcoin futures open interest showed signs of increase in recent hours even as some positions faced pressure. Immediate technical support was noted near $77,000, with resistance extending through the $79,400 to $80,800 zone.

Monetary Policy Backdrop

The geopolitical developments arrived after Federal Reserve Chair Kevin Warsh delivered remarks at the Jackson Hole symposium that markets interpreted as hawkish. Warsh indicated that inflation remains insufficiently controlled and that financial conditions are not restrictive enough. Markets subsequently raised the probability of a September interest-rate increase to the mid-to-high 50 percent range, with additional tightening priced in through the end of 2026.

Higher oil prices could add further complexity to the inflation outlook by raising transportation and production costs. The next major U.S. data release is the August employment report scheduled for September 4, which is expected to influence rate expectations and risk-asset positioning.

Earlier in the month, U.S. spot Bitcoin exchange-traded funds recorded a series of inflows totaling about $2.8 billion across multiple sessions. That streak later reversed with net outflows on one recent trading day, underscoring that institutional demand has not been uninterrupted.

Market Context and Near-Term Focus

Bitcoin’s ability to hold near recent levels stood in contrast to the broader risk-off moves in equities and the advance in energy prices. Liquidations across cryptocurrency markets reached hundreds of millions of dollars in some earlier sessions tied to regional tensions, indicating that leveraged positions remained vulnerable even when the leading digital asset avoided a sharp directional decline.

Traders continue to monitor developments around the Strait of Hormuz for any further escalation that could affect shipping and energy supplies. At the same time, attention is fixed on the September 4 jobs data and evolving Federal Reserve policy signals as the next catalysts that could shape Bitcoin’s near-term path.