Bitcoin held steady at $79,076 on Monday even as President Trump vowed to hit Iran hard and U.S. forces resumed strikes on the country. The coin's muted reaction marks a shift from earlier this year, when war headlines repeatedly knocked its price around.
Bitcoin barely moved on Monday despite President Trump's warning that the U.S. would strike Iran again. The price of the largest cryptocurrency stood at $79,076, unchanged over 24 hours and flat compared with a week earlier.
The U.S. and Iran resumed strikes on Sunday, the first exchange in over one month. According to Bitcoin Magazine, President Trump told a Fox News reporter on Monday: "We're going to hit them hard." Yet bitcoin's volatility has stayed muted in recent months, according to analysts, and Monday extended that pattern.
That marks a break from earlier in the year. When the U.S. and Israel first attacked Iran in February, bitcoin nosedived, and the coin stayed shaky on war news in March and April. Geopolitical risk had typically pressured the price downward, with rallies following hopes of a ceasefire.
Bitcoin's best run in three years
Bitcoin started a rally two weeks ago that marks its best run in three years. The coin is now up nearly 30% over the past month. The surge began after the U.S. Treasury said it would at least double the size of its liquidity-support buyback operations. The move hurt the dollar, while non-yielding assets like bitcoin and gold benefited.
Regulatory news added further support. President Trump last week called the long-awaited Clarity Act a highly powerful piece of legislation and urged lawmakers to pass it. The bill aims to set a framework for distinguishing digital assets that are securities, commodities or payment stablecoins.
Investors also piled back into ETFs this month. From August 17 to 27, they poured over $2.8 billion into the vehicles, the most since October. Bitcoin reached as high as $81,281 last week before sliding on Friday.
Source: Bitcoin Magazine
Trading involves risk.
Risk Disclaimer
