Bitcoin and Ethereum defy U.S.-Iran tensions, outperform

Bitcoin and Ethereum stayed strong amid U.S.-Iran tensions, gaining 23–30% in August. Both held key support levels despite oil surging and stocks falling, as markets braced for possible Fed rate hikes.

Bitcoin and Ethereum demonstrated notable resilience amid rising geopolitical tensions between the U.S. and Iran, which drove oil prices higher and pressured global equity markets. Despite the volatility, Bitcoin traded near $77,900–$78,000, experiencing only minor declines of 0.3–0.4%. It outperformed other major assets with a strong 23–24% gain in August. Ethereum also resisted downward pressure, closing at $2,447.15 with a marginal 0.26% drop, but delivered an impressive 30.36% monthly return. Meanwhile, oil surged nearly 2%, with Brent crude surpassing $90 per barrel, while gold and stocks declined. Market expectations for a September interest-rate hike increased after hawkish Federal Reserve comments, prompting analysts to advise caution ahead of the jobs report. Despite sharp reactions in traditional markets and significant liquidations among leveraged crypto traders, both Bitcoin and Ethereum maintained key support levels, underscoring their robustness during heightened uncertainty.