The US military struck between 90 and 140 Iranian military installations over a five-day campaign from July 8 to 13, wounding more than 260 people according to Iran’s health ministry. It’s the highest casualty count in a conflict that has been grinding through cycles of escalation and fragile truces since February.
Bitcoin responded the way Bitcoin tends to respond when missiles start flying: it dropped. The largest cryptocurrency fell more than 2% to roughly $62K, while approximately $350 million in leveraged positions across digital assets were liquidated.
A ceasefire that barely lasted three weeks
On June 17, the US and Iran agreed to a ceasefire, the latest in a series of brief pauses in a conflict that began on February 28. That ceasefire lasted exactly 21 days before collapsing under the weight of renewed hostilities.
President Trump announced the termination of the interim agreement, pointing to what he described as renewed Iranian aggression toward commercial shipping in the Strait of Hormuz. That waterway is responsible for roughly one-fifth of global oil transit.
