Bitcoin fell below $78,000, as interest rate concerns and rising tensions between the United States and Iran put pressure on

Bitcoin continued its weekend decline on Monday after Federal Reserve Chairman Kevin Warsh made hawkish remarks that raised market expectations for interest rate hikes, putting downward pressure on Bitcoin.

At the same time, the military conflict between the United States and Iran has escalated again, suppressing market risk appetite and pushing oil prices sharply higher.

As of 2:23 a.m. Eastern Time (14:23 Beijing time), Bitcoin fell 0.3% to $78,007.1, hitting an intraday low of $77,396.0.

Despite this, driven by the recent strong rebound, Bitcoin’s cumulative increase in August is still expected to be close to 24%