Geopolitics and Rates Weigh on Bitcoin Price as It Retreats to $77K

Bitcoin (BTC) retreated to around $77,000 on September 2 after its impressive August performance. The leading digital asset by market capitalization declined 0.2% to $77,132 following a nearly 25% surge in August.

The correction is attributed to two main factors: escalating tensions between the US and Iran, as well as increasing government debt yields across global markets.

Large institutional holders continued to accumulate BTC during this period, purchasing approximately 6,765 coins valued at around $521 million. This buying pressure suggests that some investors remain optimistic about Bitcoin's future prospects.