Bitcoin Slides Below $77,000 After Trump Confirms New Strikes on Iran

Bitcoin fell below $77,000 on September 2 following President Trump’s announcement of renewed U.S. airstrikes against Iranian targets near the Strait of Hormuz. The cryptocurrency had reached $80,000 just three days earlier after a Treasury‑related price surge.

Trump Announces New Strikes

Trump posted on Truth Social that the United States was striking Iranian targets near the Strait of Hormuz, describing the attacks as “large and powerful.” He linked the strikes to a failed Iranian attempt to place sea mines in the strait, which he said had been removed or detonated. The post also referenced eight Iranian missiles launched at a U.S. base in Jordan, which he claimed were intercepted, and warned of a larger response if Iran retaliated.

Oil Prices React

Brent crude rose to the $91‑$94 per barrel range after the news, reflecting concerns about potential disruptions in the Hormuz waterway, a key route for global oil shipments. Analysts noted that higher oil prices could increase inflation expectations and reduce the likelihood of near‑term U.S. rate cuts, a scenario that historically pressures risk assets such as Bitcoin.

Bitcoin’s Price Movement

After closing Monday near $78,500‑$78,900, Bitcoin dropped more than 1.3% during the session, settling below $77,000. The price remains about 29% below its October 2025 peak of over $126,000. Historical data shows that escalations in the U.S.–Iran conflict have previously pushed Bitcoin lower, at times toward $62,000.

Market Outlook

Spot Bitcoin ETFs continue to provide institutional support, but speculative capital remains sensitive to geopolitical headlines. The $77,000 level is now a key technical point to watch as the situation develops.