Bitcoin fell 0.2% to $77,132 on September 2, 2026, after a strong August rally lost momentum. The world’s largest cryptocurrency gave back part of its nearly 25% gain for the month as renewed U.S.-Iran military strikes and rising government bond yields dampened risk appetite, underscoring how quickly macro headlines can affect crypto sentiment after a sharp run-up.

The U.S. and Iran exchanged a new round of strikes overnight Tuesday. President Trump threatened to target Iran’s oil infrastructure, while Tehran warned of further attacks on U.S. bases in the Gulf. Neither side showed signs of backing down.

Oil prices rose sharply on the news, increasing concerns about energy-driven inflation. That move pushed bond yields higher in the U.S., Japan, Australia, and Europe, making speculative assets such as Bitcoin less attractive to investors.

Markets are now pricing in the possibility that the Federal Reserve will raise interest rates in September. Inflation remains well above the Fed’s 2% annual target, and Friday’s nonfarm payrolls report is expected to be an important data point for rate expectations.

Whale Accumulation Continues

Analyst Ali Charts said Bitcoin fell 5.82% from a local high of $81,474 on August 28 to $76,732, but whales continued to accumulate during the decline. Over the same period, they bought roughly 6,765 BTC, worth about $521 million.

Bitcoin has pulled back 5.82%, falling from a local high of $81,474 on August 28 to $76,732 today. Despite the correction, whales have continued accumulating. Over the same period, they purchased approximately 6,765 bitcoin:native, worth roughly $521 million. pic.twitter.com/XMRmbRHczK — Ali Charts (@alicharts) September 2, 2026

Analyst CryptosBatman said BTC was showing weakness at a major trendline resistance, noting that the MACD crossed bearish after rejection near $81,000. He warned that a deeper pullback could follow if the divergence continues.

$BTC is showing some weakness right at major trendline resistance. MACD just crossed bearish after the rejection near $81K. A deeper pullback could be next if this divergence keeps playing out. pic.twitter.com/9OLUNGbs7G — BATMAN ⚡ (@CryptosBatman) September 2, 2026

Strategy, the largest corporate Bitcoin holder, also made its first BTC purchase in two months, adding another source of support for the market.

Key Levels to Watch

According to a Glassnode report, Bitcoin is currently trading between two major zones. Accumulation support is located at $62,000 to $65,000, a range formed during summer consolidation. Overhead supply from long-term holders is concentrated at $83,000 to $86,000, which helps explain why the price has struggled to extend the rally beyond the low $80,000 area.

LATEST: 📊 Glassnode data shows 1.05M BTC held by long-term holders at $83K–$86K forming a supply wall, while 1.44M BTC at $62K–$65K is providing support below. pic.twitter.com/tsLdYZPaVW — CoinMarketCap (@CoinMarketCap) August 27, 2026

Glassnode also said the share of profitable Bitcoin supply rose from 65% in May to 68% in late August at similar price levels, which could increase selling pressure near highs.

Short-term derivatives sentiment cooled after Bitcoin failed to hold above $80,000. The 25-delta skew moved back toward neutral after the rejection. Longer-term options positioning remained stable, with the 180-day skew showing little movement during the rally and the pullback.

The September 25 options expiry has around $14 billion in open interest, with most strike prices concentrated above $80,000.

BTC was trading at $77,060, down 0.2% over the previous 24 hours, at the time of writing.