Crypto
Bitcoin Slips Below $78,000 as U.S.-Iran Tensions and Rate Hike Fears Bite
Bitcoin's price has fallen below $78,000 after a strong August that saw it rally nearly 25%, its best month since November 2024.
The drop comes as renewed U.S.-Iran tensions and fears of a Federal Reserve rate hike are weighing on the crypto market.
'BTC is trading inside a descending channel. Price is currently near $77,576, sitting in the lower-middle part of that channel,' according to an analysis of the BTC/USD chart.
Strategy, the largest corporate Bitcoin holder, has shifted back into buy mode after selling about 6,916 BTC through the summer for roughly $432.5 million at an average price near $62,500.