Bitcoin (BTC) held its ground during Asian trading hours, barely budging as traditional markets reeled from US military action against Iran's Strait of Hormuz and its islands. This resilience extends BTC's August run, where it outperformed both gold and equities, doing so even as the energy crisis deepened following six months of conflict and the resulting disruption to the strategic waterway.

TradingView data shows WTI crude climbing nearly 2% to $85.10 per barrel, with Brent crude up 1.9% to $92.39. In a counterintuitive move for traditional havens, gold slipped 0.8% to $4,418 an ounce. Meanwhile, Nasdaq futures fell 0.5%, and Asian equity markets traded lower in sympathy. Bitcoin remained anchored around $77,580, unchanged since midnight UTC, cementing its 23% gain this month versus gold's 9% and the Nasdaq's 4%.

Altcoins did not share BTC's poise, with Ripple (XRP) dipping 0.8% and SOL shedding 0.6%. Market analysis points to spot ETF inflows and anticipations of Federal Reserve intervention as key supports for BTC. However, hawkish commentary from Fed Chair Kevin Warsh at the Jackson Hole symposium has shifted the macro narrative, forcing a repricing of interest-rate expectations.

Warsh stressed that inflation remains unchecked and financial conditions are not yet restrictive enough. This has led markets to adjust their rate outlook, with MUFG Bank forex strategist Lloyd Chan noting that the probability of a September hike has jumped to 58%, with a total of 1.5 hikes now priced in by year-end.

Industry observers advise investors to sidestep excessive leverage amid macro uncertainty, recommending staged entries and disciplined position sizing. Vikram Subburaj, CEO of exchange Giottus, notes that while bitcoin has solid support near $77,000, the $79,400 to $80,800 range represents a critical resistance zone ahead of the US jobs data due on September 4th.