US strikes Iran bases as $80B exits crypto
Bitcoin fell below US$73,000 and about US$80 billion was erased from the cryptocurrency market after US airstrikes targeted Iranian military assets near the Strait of Hormuz on May 25 and 26, intensifying geopolitical tensions in one of the world’s most critical energy corridors.
US forces struck missile launch sites, naval vessels and port infrastructure in Iran’s Hormozgan province, including areas around Bandar Abbas, with Washington describing the operation as a self-defence measure aimed at protecting troops and safeguarding international shipping routes.
The sell-off triggered roughly US$1 billion in leveraged liquidations across digital asset markets as investors reacted to fears that a wider regional conflict could disrupt global trade and increase volatility across risk assets.
The strikes reportedly targeted Iranian boats accused of attempting to lay mines in the Strait of Hormuz, a waterway responsible for handling about 20% of global oil shipments and a strategic chokepoint for international energy markets.
The attacks formed part of Operation Epic Fury, a military campaign launched in February 2026 that has targeted Iranian missile batteries, naval facilities and other military infrastructure amid rising tensions between Tehran and Washington.
Iranian authorities, including the Islamic Revolutionary Guard Corps, have warned of potential retaliation, although there is currently no evidence linking the military action to Iran’s reported US$7.7 billion cryptocurrency holdings or suggesting any liquidation of those assets has occurred.
Market participants are nevertheless monitoring the situation closely because any large-scale sale of Iranian-held digital assets could add further pressure to already fragile crypto markets if the conflict continues to escalate.
At the time of reporting, Bitcoin price was $61,635.56.
