According to Woofun AI, the US military operation against Iran's Strait of Hormuz and islands caused severe shocks in traditional markets, but the trend of Bitcoin (BTC) remained almost unchanged during the Asian trading period, continuing the strong performance of August over gold and stocks.
The attack further exacerbated the energy crisis since the outbreak of conflict interrupted the Strait of Hormuz six months ago. According to TradingView data, WTI crude oil rose nearly 2% to $85.10, Brent crude rose 1.9% to $92.39; the safe-haven asset gold fell 0.8% to $4,418 per ounce, NASDAQ futures fell 0.5%, and the Asian stock market fell simultaneously.
Bitcoin remained around $77,580, unchanged since midnight Coordinated Universal Time. This month's increase reached 23%, far surpassing gold's 9% and NASDAQ's 4%. In contrast, Ripple (XRP) fell 0.8% and SOL fell 0.6%.
Data compiled by Woofun AI showed that cash inflows from spot ETFs and expectations of the Fed's intervention supported BTC, but Federal Reserve Chairman Kevin Walsh's hawkish remarks at the Jackson Hole seminar changed the macro game. Walsh emphasized that inflation was not effectively controlled and the financial environment was not binding, causing the market to reprice interest rates: Lloyd Chen, a foreign exchange strategist at Mitsubishi UFJ Bank, pointed out that the probability of interest rate hikes in September rose to 58%, and interest rates are expected to be raised 1.5 times by the end of the year.
Cryptocurrency industry observers recommend investors avoid excessive use of leverage in the midst of macro-uncertainty, enter the market in batches, and control the size of their positions. Giottus Exchange CEO Vikram Subaraj said that Bitcoin has strong support around $77,000, but the $79,400 to $80,800 range still constituted a key resistance level before the US employment data was released on September 4.