The United States has expanded its military campaign against Iran, with new strikes reported near the inland city of Shiraz. This marks a significant escalation from a campaign that began in late February 2026, now comprising over 300 strikes. The core strategic trigger remains Iranian provocations in the Strait of Hormuz, a critical chokepoint for global oil supply.
The impact on financial markets has been direct. Previous strike rounds caused Bitcoin to fall 2% and triggered approximately $1 billion in crypto liquidations. Sustained operations near the Strait of Hormuz pose a real risk of oil supply disruption. Rising oil prices feed into inflation expectations, influencing Federal Reserve rate policy and, consequently, crypto valuations.
Iran has developed an estimated $7.8 billion digital asset economy, partly as a workaround to international sanctions. However, no specific tokens have been linked to the recent military events. The situation remains highly fluid.