Iran’s Health Ministry reported that US airstrikes over two days killed at least 14 people and wounded 78 others, marking a sharp escalation in the conflict that has been simmering since February 2026.
Iran responded by launching drone and missile attacks at US military installations in Bahrain and Kuwait. Air defenses in both countries intercepted some of the incoming projectiles, with neither nation reporting injuries or damages from the strikes.
For crypto markets, the consequences were immediate. The CoinDesk 20 Index fell approximately 2.9% as traders rotated into risk-off mode.
What happened and why it matters for markets
On July 8, President Trump declared the ceasefire with Iran “over.” Within a day, US airstrikes were hitting targets inside Iran, and Tehran was firing back at Gulf state bases hosting American forces.
