The Middle East is back at the center of global attention, and markets are feeling it. Reports from early July 2026 indicate that Iran’s Islamic Revolutionary Guard Corps launched drone and missile strikes against US military installations in Bahrain and Kuwait, with both Gulf states intercepting most of the incoming projectiles before significant damage occurred.
The IRGC claimed responsibility for the attacks, framing them as retaliation for prior US airstrikes on Iranian targets and escalating friction over shipping routes through the Strait of Hormuz.
Bitcoin dropped on the news, per CoinDesk’s July 8 reporting, as traders moved into a classic risk-off posture.
What actually happened
Iran’s IRGC directed strikes at US military facilities based in Bahrain and Kuwait, two Gulf states that host substantial American military infrastructure and have long served as forward operating hubs for US forces in the region.
