Bitcoin is trading near $78,750, up about 1% on the day and roughly 23% in August, holding up better than gold and major U.S. equity indexes as markets weigh U.S.-Iran tensions, higher oil prices and still-elevated odds of a September Federal Reserve rate increase. After Fed Chair Kevin Warsh’s Jackson Hole remarks, markets continued to price roughly a 58% chance of a 25 basis-point hike next month, keeping two-year Treasury yields firm and pressuring long-duration growth assets. Brent crude moved back toward $90 a barrel and WTI around $85–$86 after weekend reports of U.S. strikes near Alarak Island and comments from Donald Trump on possible escalation, reinforcing an oil-inflation-rates feedback loop. U.S. spot Bitcoin ETFs saw about $202 million in net outflows on August 28, ending a nine-day inflow streak, while 24-hour crypto liquidations reached about $158 million, mostly on the short side. Traders are focused on this week’s ISM manufacturing data and Friday’s nonfarm payrolls as the next tests of rate-hike pricing, with $80,000 still viewed as a key near-term level for Bitcoin.