On Monday, the US military struck Iranian positions near the Strait of Hormuz, pushing WTI crude up nearly 2% to $85.10 and Brent 1.9% to $92.39, while Wall Street fell sharply. Bitcoin held firm around $78,623, down just 0.7% over 24 hours, showing remarkable resilience against geopolitical tensions. The Strait of Hormuz, through which roughly 20 million barrels transit daily, remains a critical chokepoint for global oil markets. Bitcoin posted an exceptional August with gains exceeding 24%, its best August since 2017. The Fed faces conflicting pressures: Kevin Warsh took a hawkish tone at Jackson Hole while Donald Trump pushes for rate cuts, with approximately 58% probability of a September rate hike.
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