Iran launched attacks against U.S. naval vessels on Monday, according to a report published minutes ago in the WSJ. The U.S. military has not yet acknowledged the attacks, the report continued.
While no U.S. ships were struck, fears are growing that Iran is using more sophisticated weapons and could be getting support from China or Russia, U.S officials told the Journal.
The news sent oil sharply higher, with WTI crude now up 2.5% to $93.77 per barrel.
That dinged stocks a bit into the close with the S&P 500 losing 0.55% and the DJIA falling 1.15%. The Nasdaq slumped just 0.35%.
Bitcoin is trading at $78,450, down 1.15% over the past 24 hours.
Bitcoin’s next move could hinge on ETF demand and U.S. interest rates after the token slipped about 3% over the past five days to $78,600.
Schwab digital asset research director Jim Ferraioli said September has historically been crypto’s weakest month but positioning looks less fragile after an August short squeeze cleared out bearish bets.
Open interest rose about 16% during bitcoin’s recent 26% rally, signaling traders added leverage rather than simply closing shorts. Ferraioli said that setup has historically favored gains, though leverage could deepen losses if bitcoin falls.
Wintermute sees $75,000 and $82,000 as key levels ahead of the Federal Reserve’s Sept. 15-16 meeting. About $1 billion flowed into spot bitcoin ETFs last week which the market maker said helped support prices despite higher Treasury yields.
Ferraioli also flagged roughly $80,000 as a key cost-basis level that could shape investor sentiment.
The S&P 500 is down just 0.35% on today, and there are nearly 90 minutes left in the trading session.
Were the S&P to close lower, though, it would be the 10th consecutive down session for the average on a Tuesday following Labor Day, according to Bespoke.
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