Bitcoin Plunges Below $77,000 Amid Geopolitical Tensions

BTC slid below $77,000 on September 2, as geopolitical tensions near the Strait of Hormuz and rising Treasury yields weighed on risk assets. The total crypto market capitalization declined by 1.68% to $2.61 trillion.

Ethereum fell about 3% to $2,420, while XRP dropped 3.18% to $1.35 and Solana declined 3.88% to $100.20. Bitcoin traded at approximately $76,500, down roughly 2% over the prior 24 hours.

Spot Bitcoin ETFs recorded a net outflow of $236.46 million on September 1, while Ethereum funds attracted $10.95 million in inflows and XRP funds pulled in $14.38 million. Solana funds added $10.19 million in inflows.

Wintermute said institutional investors have begun shifting toward select altcoins following Bitcoin's earlier rally. Large investors are quietly accumulating positions in Solana and XRP, with fund inflows into ETFs focused on those two assets expected to reach record levels in 2026.