Iran’s Islamic Revolutionary Guard Corps launched missile and drone strikes against US military facilities in Kuwait and Iraq this week, marking a significant escalation in the ongoing conflict between Tehran and Washington. The operation, dubbed “Operation Nasr 2” by the IRGC, was framed as retaliation for prior US airstrikes targeting Iranian assets.
Bitcoin’s flash dip and rapid recovery
Bitcoin dropped to approximately $99.5K on July 8 as news of the strikes broke. Within hours, prices had climbed back above $102K.
The dip was largely driven by leveraged liquidations, meaning traders with borrowed positions got wiped out by the sudden price action, which then created a cascade of forced selling.
The strikes themselves
