Bitcoin Tumbles Below $77,000 as Trump Confirms New Strikes on Iran

Bitcoin's price dropped below $77,000 on September 2 after President Trump announced new US airstrikes on Iranian targets near the Strait of Hormuz.

This move comes just three days after Bitcoin hit $80,000 following a sudden bull run triggered by the US Treasury.

The token's price fell more than 1.3% to 2% during the session, with some analysts attributing the decline to rising oil prices and increased inflation expectations.

Oil prices surged on the news, with Brent crude climbing above $91 to $94 a barrel amid fears of fresh disruptions in Hormuz.

The Strait of Hormuz is a critical waterway carrying a substantial share of global crude supply, and any disruptions can have significant impacts on the global economy.