Bitcoin (BTC) Price: Stays Above $77K as Oil Prices Fall to $85

TLDR

• Bitcoin price holds above $77,000 despite US economic action against Iran.
• Treasury Secretary Scott Bessent calls the sanctions push an “economic D-Day.”
• Oil prices fall to $85 per barrel following the announcement.
• Prediction markets give Bitcoin a 68% chance of hitting $85,000 by year end.
• Bitcoin futures open interest climbs to $55.37 billion.

Bitcoin price held above $77,000 early Monday. This came as US Treasury Secretary Scott Bessent announced a fresh round of economic pressure on Iran.

Bessent described the move as an “economic D-Day.” He said it would begin at dawn and target the financial lifelines that support the Iranian government.

In a post on X, Bessent wrote: “At dawn begins an economic D-Day — the single greatest financial offensive ever marshaled against an adversary.” He added that the goal is to sever every economic lifeline sustaining the regime until Tehran stands alone.

Bessent is set to formally announce the sanctions at a press conference on August 24. The measures may include secondary sanctions on foreign banks and firms doing business with Iran.

Iran responded with its own warning. It said any country backing the new sanctions would be treated as committing an act of war.

Iran also said no oil would leave the Strait of Hormuz if the pressure continues. Oil prices have already dropped to $85 per barrel since the announcement.

Bitcoin Price Action

Bitcoin price rose more than 20% last week. It now trades near $77,150, holding steady despite the geopolitical headlines.

Analysts expect the crypto market to keep climbing. Prediction market data shows a 68% chance Bitcoin reaches $85,000 by December 31, 2026.

Bitcoin Price on CoinGecko

Broader Market Signals

Gold price climbed above $4,645 during the same period. The US Dollar Index slipped to near 98.80 ahead of upcoming PCE inflation data.

Ten-year Treasury yields hovered around 4.71%. That is down from recent highs of 4.74%.

CoinGlass data showed mixed activity in the derivatives market. Bitcoin futures open interest rose 0.70% to $55.37 billion over the last 24 hours.

Four-hour futures open interest told a different story. It slipped 0.50%, with a 0.96% drop on CME and a 0.23% fall on Binance.

The US Treasury also moved to double its debt buybacks. Bessent said the step is meant to steady the bond market.

Rising demand for safe-haven assets has pushed some investors toward tokenized gold. This gives blockchain-based traders a way to gain similar exposure without leaving crypto markets.

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