Bitcoin Defies Iran Tensions with 30% Monthly Surge

Bitcoin remained unchanged at $79,076 over 24 hours and up nearly 30% over the past month. The cryptocurrency's price surge began two weeks ago and has been driven by several factors.

The U.S. Treasury's plans to double liquidity-support buybacks have had a positive impact on Bitcoin's price. Additionally, substantial crypto ETF inflows of $2.8 billion from August 17-27 and about $3.2 billion the week to August 31 have contributed to the rally.

The proposed Clarity Act has also been a major factor in Bitcoin's price increase. President Trump called it 'a very, very powerful piece of legislation' and urged lawmakers to pass it. The act aims to establish a framework for distinguishing between digital assets that are securities, commodities or payment stablecoins.