Iranian forces launched a barrage of ballistic missiles and drones at US military installations across the Gulf, with Tehran claiming 70 percent of its targets were hit. The strikes, carried out by the Islamic Revolutionary Guard Corps, mark a significant escalation in the 2026 Iran conflict and sent shockwaves through global financial markets, including crypto.
Bitcoin dropped below $73,000, its lowest level since mid-April 2026. The broader digital asset market lost roughly $80 billion in value as investors scrambled for the exits.
What happened on the ground
The IRGC targeted US air bases scattered across Kuwait, Bahrain, Qatar, and the UAE. Among the sites hit was Ali Al Salem Air Base in Kuwait, where five US personnel were reportedly injured and military equipment was destroyed.
Damage assessments paint a picture more severe than initial Pentagon statements suggested. At least 228 structures or pieces of equipment at US facilities suffered damage, a figure that exceeds what American officials initially acknowledged publicly.
