U.S. Central Command has completed a ninth consecutive night of strikes against Iranian military targets. The sustained campaign, which began around July 11-12, 2026, is focused on degrading systems Iran could use to threaten commercial shipping in the Strait of Hormuz.
Targets include military command centers, air defense sites, and missile facilities. The operations are partly in response to Iranian-linked attacks on U.S. service members and partly a deterrent to protect global shipping lanes.
Iranian Supreme Leader Khamenei has rejected ceasefire proposals, suggesting the strikes will continue.
Beyond oil, markets are watching the impact on digital assets. Bitcoin and Ethereum have shown mixed reactions to past geopolitical stress. Investors are monitoring whether Bitcoin begins to correlate more with traditional safe havens like gold, rather than the S&P 500.
Key market signals to watch include any potential Iranian retaliation affecting shipping and a measurable shift in Bitcoin's correlation patterns.