Bitcoin falls nearly 1% to $79,700 amid U.S.-Iran tensions and surging oil prices.

Huo Xing Finance reports that Bitcoin prices fell nearly 1% to around $79,700 as escalating tensions between the U.S. and Iran pushed oil prices higher. The U.S. Central Command confirmed that on Saturday, it struck three Iranian tankers near Kharg Island, Jask, and the Gulf of Oman. Admiral Brad Cooper stated that if Iran attacks U.S. vessels, the U.S. will impose greater economic costs. The U.S. Central Command updated its maritime interdiction data, showing that since operations resumed on July 14, it has diverted 92 commercial vessels, disabled three, and boarded and inspected two. Oil prices rose 1% in both European and U.S. markets, with WTI trading at $92.72 and posting a cumulative gain of over 6% in the first seven days of September. Rising oil prices could exacerbate global inflation, making it more difficult for central banks, including the Federal Reserve, to cut interest rates. Additionally, last Friday’s stronger-than-expected U.S. August employment data reinforced expectations of a Fed rate hike, but Trump immediately posted on Truth Social calling for rate cuts, stating that a strong nation means lower interest rates. This uncertainty may dampen risk appetite across Bitcoin and broader markets. Furthermore, late Sunday night, the Liquid Network—used by exchanges as a settlement layer—suffered a $320 million attack.