Bitcoin (BTC) Price: BTC Holds Near $78,000 As Geopolitical Tensions Rise and ETF Flows Shift

TLDR

• Bitcoin held near $77,580–$78,800 despite U.S.-Iran tensions pushing oil prices up nearly 2%
• BTC is August’s best-performing asset, up 23% vs gold’s 9% and Nasdaq’s 4%
• Bitcoin ETFs saw $242.3M in inflows on Aug 27, followed by $201.9M in outflows on Aug 28, ending a nine-day inflow streak
• BlackRock’s spot Bitcoin and Ethereum ETFs attracted over $1.58B in the past week
• Key resistance sits at $79,400–$80,800; support near $77,000–$75,000

Bitcoin is holding steady around $77,580 to $78,800 even as fresh geopolitical tension entered the market. The U.S. struck an Iranian island in the Strait of Hormuz, a key oil tanker route. Oil prices jumped in response, with WTI crude rising nearly 2% to $85.10 and Brent climbing to $92.39.

Gold dropped 0.8% to $4,418 per ounce. Nasdaq futures slipped 0.5%. Bitcoin, by contrast, barely moved.

BTC has gained 23% in August, making it the top-performing asset of the month. Gold gained 9% over the same period. The Nasdaq rose just 4%.

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