Bitcoin Pulls Back to $77K Amid US-Iran Tensions

Bitcoin dipped below $78,000 on Monday following US forces' strike on an Iranian launch site in the Strait of Hormuz. The attack triggered a fresh round of retaliatory strikes and pushed oil prices higher.

The pullback marks what several market observers describe as a healthy correction after a month in which Bitcoin surged more than 20 percent. Despite this, analysts are cautioning that investors should avoid aggressive leverage due to ongoing macro uncertainty.

Bitcoin's resilience has been a recurring theme through August, with the token gaining roughly 23 percent this month compared to 9 percent for gold and 4 percent for the Nasdaq.