Bitcoin and Ethereum Prices Drop Amid Higher Rate Expectations
On Monday, August 31, 2026, Bitcoin (BTC-USD) opened at $77,695.48, down 0.7% from Sunday's opening price, while Ethereum (ETH-USD) started the day at $2,417.98, a decline of 1.6%. Despite early gains in morning trading, both cryptocurrencies remained below Friday’s levels due to heightened expectations for interest rate hikes and geopolitical tensions. The Federal Reserve Chair Kevin Warsh emphasized the central bank's commitment to reducing inflation during his Jackson Hole speech, reinforcing concerns about tighter monetary policy. Additionally, U.S. airstrikes on Iranian rocket launchers over the weekend increased oil prices and further fueled fears of imminent rate increases in 2026.
Topics: Bitcoin Ethereum Federal Reserve interest rates Middle East tensions