Iran’s Islamic Revolutionary Guard Corps launched a missile attack on the Harir Air Base in Iraq’s Kurdistan Region, a key stronghold for US forces. The IRGC claimed five missiles were fired in the operation, marking another sharp escalation in a conflict cycle that has kept crypto traders on edge for weeks.
The strike is not an isolated event. It fits into an alarming pattern of over 400 missile and drone strikes reported across Iraqi Kurdistan between February and March 2026, a tempo of military activity that has rattled energy markets and, by extension, every risk asset class within reach, including crypto.
What happened in the markets
Bitcoin dropped to around $63,000 in the hours following the attack before rebounding above $67,000 as traders recalibrated. That’s roughly a 6% swing in a matter of hours, the kind of move that turns leveraged positions into liquidation receipts.
Liquidations in tokenized oil futures reached approximately $40 million as crude prices surged on supply disruption fears.
