Bitcoin Slides Below $77,000 After Trump Confirms New Strikes on Iran
Bitcoin lost the $77,000 level on Tuesday, September 2, after President Trump confirmed renewed US airstrikes on Iranian targets near the Strait of Hormuz.
The token hit $80,000 just 3 days ago after the US Treasury triggered a sudden bull run. Is that momentum disappearing again?
Trump Confirms New Strikes, Threatens a Larger Response
Trump posted on Truth Social that “the United States is, as we speak, striking Iranian targets near the Strait of Hormuz.”
He described the strikes as large and powerful, framing them as retaliation for a failed Iranian attempt to plant sea mines in the strait, which he said have since been completely removed or detonated.
He also cited eight Iranian missiles launched at a US base in Jordan, all of which he said were intercepted. Trump warned that any Iranian retaliation would trigger a response at a much harder, higher level, adding that this is not the biggest strike, which is waiting in the wings.
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"The United States is, as we speak, striking Iranian Targets near the Strait of Hormuz. The strikes are large and powerful, and in retaliation for the Iranians’ failed attempt at adding sea mines to the Strait, which currently has no mines (They have been completely removed or… pic.twitter.com/4t3urANDVb
— The White House (@WhiteHouse) September 1, 2026
The announcement follows US strikes on launchers on Larak Island a day earlier, with Iran responding against bases in Jordan.
Iranian media reported explosions in Qeshm, Bandar Abbas, and other locations across Hormozgan province. These claims, made by one side of an active conflict, have not been independently verified.
Oil and Bitcoin Reacted in Opposite Directions
Oil prices jumped on the news. Brent crude climbed above $91 to $94 a barrel amid fears of fresh disruptions in Hormuz, a waterway carrying a substantial share of global crude supply.
“Brent crude oil has now surged to $94.48/bbl, up 4.1% on the day. The next $5 matters more than the last $5. At ~$95/bbl, oil is still primarily a geopolitical risk story. At $100+, it increasingly becomes an inflation, Fed and equity-valuation story,” one analyst said on X.
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That spike feeds inflation expectations and reduces the odds of near-term US rate cuts, an environment that has historically weighed on risk assets like Bitcoin.
Bitcoin, which closed Monday near $78,500 to $78,900, fell more than 1.3% to 2% during the session. The token remains roughly 29% below its October 2025 all-time high of above $126,000.
Since the US-Iran conflict began in late February, similar escalations have repeatedly triggered selloffs, at times pushing Bitcoin below $77,000 and even toward $62,000.
Spot ETFs continue offering institutional support, though speculative capital still reacts sharply to headlines, leaving $77,000 as the key level to watch as Iran’s response unfolds.
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