TLDR
- Bitcoin fell 0.2% to $77,132 on September 2, pulling back after a 25% rally in August
- Renewed U.S.-Iran military strikes and rising Treasury yields dampened risk appetite
- Whales bought approximately 6,765 BTC (~$521 million) during the pullback
- Bitcoin is trading between key levels: accumulation support at $62K–$65K and LTH supply at $83K–$86K
- Around $14 billion in options open interest is set to expire September 25
Bitcoin dropped back toward $77,000 on September 2, 2026, after a strong August rally ran out of steam. The world’s biggest cryptocurrency fell 0.2% to $77,132, giving back some of its nearly 25% August gain.
The pullback was driven by two main factors: fresh U.S.-Iran military strikes and rising government bond yields around the world.
The U.S. and Iran traded 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 jumped sharply on the news, raising fears of energy-driven inflation. That pushed bond yields higher in the U.S., Japan, Australia, and Europe, making speculative assets like Bitcoin less attractive to investors.
Markets are now betting the Federal Reserve will hike interest rates in September. Inflation remains well above the Fed’s 2% annual target. Friday’s nonfarm payrolls report will be a key data point for rate expectations.
Whale Accumulation Continues
Analyst Ali Charts noted that Bitcoin pulled back 5.82% from a local high of $81,474 on August 28 to $76,732. Despite the drop, whales continued buying, purchasing roughly 6,765 BTC worth around $521 million over the same period.
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. https://t.co/AQc517xRnP pic.twitter.com/XMRmbRHczK
— Ali Charts (@alicharts) September 2, 2026
Analyst CryptosBatman flagged that BTC is showing weakness at a major trendline resistance, with the MACD crossing bearish after rejection near $81K, warning 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 top corporate Bitcoin holder, also made its first BTC purchase in two months, offering some support to the price.
Key Levels to Watch
According to a Glassnode report, Bitcoin is now stuck between two important zones. Accumulation support sits at $62,000–$65,000, formed during summer consolidation. Overhead supply from Long-Term Holders is concentrated at $83,000–$86,000.
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 pointed out that profitable Bitcoin supply grew from 65% in May to 68% in late August at similar price levels, creating more potential selling pressure near highs.
Short-term derivatives sentiment cooled after Bitcoin failed to hold above $80,000. The 25-delta skew returned toward neutral following the rejection.
Longer-term options positioning remained stable, with the 180-day skew showing little movement during the rally and pullback.
The September 25 options expiry holds around $14 billion in open interest, with most strike prices concentrated above $80,000.
BTC was trading at $77,060, down 0.2% in the past 24 hours at the time of writing.
