Bitcoin holds steady as oil rises after U.S. attack and XRP falls

Bitcoin traded near $77,580 after the U.S. attacked an Iranian island in the Strait of Hormuz. Bitcoin was largely unchanged since midnight UTC during Asian hours. Oil prices rose after the attack, and Iran took retaliatory action. WTI crude futures rose nearly 2% to $85.10. Brent crude rose 1.9% to $92.39, according to TradingView. The Strait of Hormuz is a major oil tanker route that has been disrupted since the conflict began six months ago. Gold fell 0.8% to $4,418 per ounce. Nasdaq futures fell 0.5% alongside losses in Asian equity markets. Bitcoin has risen 23% this month. Gold has gained 9% during the same period. The Nasdaq has risen 4%. XRP fell 0.8%. Solana fell 0.6%. Markets see a 58% chance of a September interest-rate increase after Fed Chair Kevin Warsh gave a hawkish speech. Analysts cautioned against heavy leverage ahead of the Sept. 4 jobs report. Bitcoin's outperformance could be linked to strong spot ETF inflows and hopes for aggressive Fed intervention after the Treasury's bond buyback program.