The US military launched a fresh wave of airstrikes targeting Iranian military installations in and around the Strait of Hormuz, marking the seventh straight night of strikes following the collapse of a ceasefire agreement. Two US service members were killed in a retaliatory Iranian ballistic missile attack in Jordan, escalating a conflict that is now reverberating through global markets, crypto included.
Bitcoin dropped below $64,000 during the strikes, trading in a range around $62,800 to $63,800.
What happened
US Central Command (CENTCOM) executed strikes on July 17-18, 2026, targeting surveillance systems, air defense mechanisms, missile infrastructure, and maritime assets in Iran’s Hormozgan province. The region sits along the Strait of Hormuz, through which roughly a fifth of the world’s oil supply passes on any given day.
The military action followed the breakdown of a recent ceasefire on July 15. Since then, CENTCOM has struck Iranian positions every single night.
