Bitcoin falls as US strikes Iranian oil tankers
- Bitcoin (CRYPTO:BTC) has fallen nearly 1% to about $79,700 as oil prices rise after US strikes on Iranian tankers.
- WTI crude has climbed to $92.72 a barrel, extending its September gain above 6%.
- Higher oil prices and strong US jobs data could complicate expectations for Federal Reserve rate cuts.
Bitcoin (CRYPTO:BTC) has fallen nearly 1% to about $79,700 after US forces struck three Iranian oil tankers.
US Central Command confirmed the strikes near Kharg Island, Jask and the Gulf of Oman, while US forces also expanded maritime enforcement.
Oil prices have risen about 1%, with WTI crude reaching $92.72 a barrel after gaining more than 6% this month.
Higher oil prices can add to inflation and make it harder for central banks to cut interest rates, which may pressure financial markets.
US job growth has strengthened the case for higher interest rates after August employment data exceeded expectations.
President Donald Trump has called for lower rates, saying the Federal Reserve should reduce borrowing costs despite the stronger jobs data.
Bitcoin has traded around $80,000 in recent days as traders assess geopolitical risks, interest rates and a separate $320 million Liquid Network exploit.
At the time of reporting, Bitcoin price was $79,640.87.
