Iran’s Islamic Revolutionary Guard Corps launched a large-scale missile and drone assault targeting US military bases across the Gulf region. The crypto market’s reaction was swift, violent, and, for leveraged traders, extremely expensive.
Bitcoin plunged to approximately $99.5K in the immediate aftermath of the June 28 strikes before snapping back above $102K.
What happened on the ground
The IRGC announced the strikes as retaliation for earlier US airstrikes, deploying a combination of ballistic missiles, cruise missiles, and drones against multiple targets. Key installations in the crosshairs included the Ali Al-Salem Air Base in Kuwait and the US Fifth Fleet headquarters in Bahrain.
Most of the incoming threats were intercepted by Kuwaiti and Bahraini defense systems. Initial reports indicate minimal infrastructure damage and no confirmed American casualties.
