US Central Command confirmed on June 12 that American forces intercepted multiple Iranian one-way attack drones targeting maritime traffic near the Strait of Hormuz. The shootdowns, described as defensive measures to protect commercial shipping, sent shockwaves through financial markets and triggered a brutal selloff in crypto.
Bitcoin dropped to a six-week low, falling below $73,000 as traders scrambled for the exits. Leveraged positions across the crypto market got obliterated, with liquidations exceeding $1 billion.
What happened in the Strait
The Strait of Hormuz is, in simple terms, the world’s most important oil chokepoint. Roughly 20% of global oil trade passes through this narrow waterway between Iran and the Arabian Peninsula.
Official sources confirmed at least two drones were downed, though some reports suggest the total number intercepted may have been higher. The drones were of the one-way attack variety, meaning they’re designed to crash into their targets rather than return.
