The US military struck more than 170 Iranian military facilities, including air defense systems and missile sites at locations like Bandar Abbas and Bushehr. Iran hit back with missile and drone attacks on over 85 US installations across Bahrain, Kuwait, and Jordan.
Bitcoin didn’t collapse. It wobbled, recovered, and is now trading near $63,000, up 1.2% even on days when US strikes hit 90 Iranian targets.
What happened, and what the markets did next
The current conflict traces back to March 2026, when US and Israeli forces began striking Iranian infrastructure. That initial round sent Bitcoin sliding to roughly $63,255 before the market found its footing and climbed back toward $68,000 to $69,000.
The July 2026 escalation, with the US expanding strikes near Tehran itself, produced a similar pattern. Bitcoin dipped toward $63,000, then rebounded. Ether held above $2,000 at key points during the fighting. The overall crypto market cap fluctuated between $2.1 trillion and $2.5 trillion during the most intense periods of the conflict.
