Bitcoin Holds Steady Near $78K Amid Global Tensions and Shifting ETF Dynamics

Bitcoin has remained stable in the $77,580-$78,800 price range despite escalating tensions between the US and Iran. The conflict led to a surge in oil prices, with WTI crude increasing by nearly 2% to reach $85.10 per barrel.

The stability of Bitcoin is in contrast to gold, which declined by 0.8%, while Nasdaq futures registered a 0.5% decrease.

Throughout August, Bitcoin delivered a commanding 23% return, outperforming gold's 9% gain and the technology-heavy Nasdaq's 4% advance.