Bitcoin Drops to $77,000, Brent Crude Rises 2.3% After U.S. Strikes in Strait of Hormuz

Odaily News: The U.S. Central Command confirmed that U.S. forces attacked two Iranian rocket launchers in the Strait of Hormuz in the early hours of Sunday, Beijing time, August 31. This is the first time the United States has publicly acknowledged attacking Iran since the end of July. In the early hours of the 31st, Iran's Islamic Revolutionary Guard Corps posted on social media that it had launched missiles at a U.S. military base, and stated that the attack on Larak Island had caused casualties, including civilians, and that such aggression would be met with retaliation.

In response to the news, WTI crude oil gapped up nearly 2% on Monday, while Brent crude returned to $90 per barrel, up 2.3% on the day. Spot gold gapped down at the open. The cryptocurrency market broadly declined, with Bitcoin falling to a low of $77,000, currently trading at $77,399.02, down 1.7% in the last hour.