Bitcoin Falls Near 1% to About $79,700 as U.S.-Iran Tensions Lift Oil Prices

Bitcoin fell nearly 1% to about $79,700 as escalating U.S.-Iran tensions pushed oil prices higher. According to ChainCatcher, the U.S. Central Command confirmed it struck three Iranian oil tankers on Saturday near Kharg Island, Jask, and the Gulf of Oman, while Admiral Brad Cooper said the U.S. would impose higher economic costs if Iran attacks American ships. The U.S. Central Command also said its maritime blockade data showed 92 commercial vessels had been rerouted, three disabled, and two boarded for inspection since operations resumed on July 14. Oil prices rose 1% in both European and U.S. markets, with WTI at $92.72 and up more than 6% in the first seven days of September. The article said higher oil prices could worsen global inflation and make it harder for central banks, including the Federal Reserve, to cut rates. It also noted that stronger-than-expected U.S. August employment data released last Friday reinforced expectations for Fed rate hikes, while U.S. President Donald Trump later posted on Truth Social calling for lower rates. The report added that uncertainty may weigh on Bitcoin and broader market risk appetite, and that the Liquid Network, used by exchanges as a settlement layer, suffered a $320 million attack late Sunday.