Iran launched nearly 30 missiles at Israel over several hours from Sunday night into Monday, and Israel responded with airstrikes on Iranian military installations and the Mahshahr petrochemical facility. Bitcoin dropped toward the $63K level as traders scrambled to reprice risk across every asset class that doesn’t come with a central bank guarantee.
President Trump publicly called on both sides to stop firing, said final negotiations on what he described as “peace” were continuing, and pressed for an immediate halt to the exchange. The diplomatic intervention came as the two-month-old ceasefire, established in April 2026, effectively disintegrated under the weight of the latest escalation.
What happened on the ground
Iran’s missile barrages on June 7-8 came after the country warned it would retaliate for Israeli strikes in Beirut’s Dahiyeh district. Most of the incoming missiles were intercepted, according to Israeli officials, who said projectiles aimed at air bases had been neutralized.
Israel then struck back, hitting military sites inside Iran along with economic targets, including the Mahshahr petrochemical facility.
