The US military launched a fresh wave of strikes against Iranian military targets on July 7, hitting over 80 locations just hours after President Trump declared the interim ceasefire “over.” Bitcoin responded by sliding to the $61,000 to $62,000 range as traders scrambled for exits.
What happened on the ground
US Central Command (CENTCOM) initiated strikes targeting Iranian military assets across more than 80 locations on July 7. By July 8, the operation had escalated further, with approximately 90 targets hit.
The focus was the Strait of Hormuz. Roughly 20% of the world’s oil passes through that narrow waterway on any given day. Targets included Iran’s coastal defenses and naval capabilities. The strikes came in response to Iranian attacks on commercial vessels, according to CENTCOM.
Iran announced plans to retaliate against US-linked sites in Bahrain, Kuwait, and Qatar. The interim ceasefire that had been in place was the product of negotiations dating back to April 2026.
