Bitcoin holds above $77K on Monday. The asset remains strong despite new Iran sanctions.
Treasury Secretary Scott Bessent announced an “economic D-Day.” He confirmed the financial offensive begins at dawn.
Why Bitcoin holds above $77K despite economic D-Day
Bessent stated that Trump’s military actions dismantled Iranian factories. He said they severely weakened Iran’s nuclear program. “We are now entering the endgame,” he wrote on X.
“At dawn begins an economic D-Day,” Bessent added. He described it as the greatest financial offensive ever against an adversary.
The objective is clear. They want to sever every economic lifeline. They aim to isolate Tehran completely. Bessent will formally declare sanctions at a press conference on August 24.
The sanctions could target foreign banks and firms. They could also target countries doing business with Iran. Trump earlier warned of “crushing economic operation ever taken against any country.”
Countries providing financial or logistical support may face consequences. Oil prices dropped to $85 per barrel after the announcement.
Iran also issued a threat. It warned that backing new U.S. sanctions is an “act of war.” Iran said “not a single drop of oil” would leave the Strait of Hormuz. This would happen if Washington’s economic pressure continues.
Bitcoin holds above $77K as safe-haven asset
Bitcoin surged more than 20% last week. It currently trades around $77,150. The asset held strong despite the economic announcement.
The US Treasury doubled debt buybacks. This helped steady the bond market. Analysts expect further price increases. Prediction market data shows 68% odds of reaching $85,000. This is the target by December 31, 2026.
Gold extended gains above $4,645. The US Dollar Index traded lower near 98.80. This happened ahead of US PCE inflation data. 10-year Treasury yields hovered around 4.71%. They fell from recent peaks around 4.74%.
Derivatives market shows mixed sentiment
CoinGlass data shows mixed signals. Total Bitcoin futures open interest climbed 2.08%. It reached $55.71 billion in the last 24 hours. Nevertheless, 4-hour BTC futures OI only rised by 0.25%. CME dropped 0.17% for the last hour.
Safe-haven assets are rallying amid tensions. More blockchain-native investors trade tokenized gold. This offers an alternative exposure method.
