The Trump administration is ramping up its military footprint in the Middle East. The US has moved 31 KC-135 and KC-46 refueling aircraft to Europe to support operations in the region, deployed the USS Nimitz aircraft carrier, and conducted six consecutive nights of precision airstrikes on Iranian military targets as of mid-July 2026.
What’s happening on the ground
The current military campaign traces back to February 28, 2026, when US-Israeli airstrikes first hit a range of critical Iranian infrastructure, including military installations and nuclear facilities. Since then, the conflict has cycled through escalations and partial ceasefires.
The positioning of refueling aircraft in Europe, which happened back in June 2025, laid the logistical groundwork for exactly this kind of extended operation.
The Strait of Hormuz, through which a massive share of global oil shipments pass, sits right in the middle of this mess. Any disruption to traffic through that chokepoint sends shockwaves through energy markets, which then ripple into equities, currencies, and yes, crypto.
