Iran’s Revolutionary Guard Corps launched missile strikes against two major Israeli air bases on June 8, sending Bitcoin tumbling toward $104K as investors scrambled to reprice risk across every asset class, digital ones included.
The operation, dubbed “Operation Nasr” by the IRGC, targeted Nevatim and Tel Nof airbases. Iran framed the strikes as direct retaliation for Israeli attacks on Iranian radar installations carried out the same day.
What happened and why crypto cares
Just six days before the strikes, on June 2, the US Treasury announced sanctions against Nobitex, Iran’s largest cryptocurrency exchange. The accusation: facilitating transactions linked to the IRGC and Iran’s central bank, particularly during internet blackouts when traditional financial channels go dark.
Bitcoin, which had been trading above $104K, dropped toward that level as the news broke. The Israeli military operations on June 8 also reportedly included targets at Ramat David Airbase. This wasn’t a single retaliatory gesture. It was a multi-front military exchange compressed into hours.