Bitcoin opened at $79,093.85 on Tuesday morning, September 8, US Eastern Time, down 1.6% from Monday's opening price, and fell to $78,370.62 by 7:20 AM. Ethereum opened at $2,489.84, down 1% from Monday's opening price, and fell to $2,473.66 by 7:20 AM.
The decline in cryptocurrency prices comes amidst ongoing conflict between the US and Iran, with weekend military clashes pushing oil prices close to $100 per barrel, exacerbating inflation concerns. The market currently anticipates a 60% probability of the Federal Reserve raising interest rates at its September 15 meeting.
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Bitcoin fell 1.6% to $78,370 on Tuesday, and Ethereum dropped 1% to $2,473, as the ongoing conflict between the US and Iran and escalating inflation concerns weighed on markets.
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