Bitcoin Fluctuates at $77,000 Amid Geopolitical Tensions and Fed Hawkishness
Bitcoin has been hovering around the $77,000 mark after a series of declines brought it back to near that level. Despite recovering approximately $2,000, BTC found resistance and began fluctuating between $77,000 and $79,000.
The move comes after a week marked by a strong rebound when Bitcoin managed to surpass $81,000 on some occasions. Selling pressure increased at the end of August and limited the recovery's continuation, with BTC losing strength after new Federal Reserve Chairman Kevin Warsh delivered a hawkish speech in Jackson Hole.
On Monday, the escalation of attacks between the United States and Iran brought new pressure to the market, contributing to another drop. However, Bitcoin remains among the main ranges watched by traders, with its market capitalization close to $1.56 trillion.