The United States military executed a major bombing campaign against Iran, striking more than 300 targets over three nights in early July.
The precision strikes targeted Iranian missile, drone, and naval infrastructure. The US framed the operation as a direct response to Iranian attacks on commercial shipping in the Strait of Hormuz, a critical global oil transit point.
The military action escalated rapidly. Approximately 170 targets were hit in the first two days, with an additional 90 struck in subsequent overnight operations. The final night saw roughly 140 targets neutralized. This followed the collapse of a fragile ceasefire.
Financial markets reacted negatively. Bitcoin's price fell to the $62,000 to $63,000 range. The CoinDesk 20 Index, which tracks major digital assets, dropped 2.9%, indicating broad selling pressure across the sector.
Analysts note that traders with leveraged positions face heightened risk of liquidation during such geopolitical shocks. The market's direction hinges on potential Iranian retaliation and whether the conflict further disrupts global shipping.