Bitcoin Holds Near $80K as US-Iran Tensions Ease
Bitcoin's price held near $80,000 as the cryptocurrency market recovered from recent pressure. The move came after renewed diplomatic efforts between the United States and Iran raised hopes of easing tensions and reducing the risk of further disruptions to global energy supplies.
The U.S. Treasury launched 'Operation Economic Outcast' on August 24, expanding potential secondary sanctions to Iran-linked activity across digital assets, technology, gold, aviation, and shipping. Nearly 60 crypto individuals, entities, and vessels were sanctioned for processing over $100 million in cryptocurrency payments connected to Iran's oil trade and sanctions evasion.
Iran condemned the expanded U.S. sanctions, calling them an act of 'gross lawlessness' and warning that Washington should expect a response. Iranian Economy Minister Ali Madanizadeh described the measures as an 'economic terrorist attack' and said Tehran was prepared to retaliate.