Pakistan has granted permission for Iranian military aircraft to park at its Nur Khan Air Base, deepening regional alliances as the US-Iran standoff intensifies. The move is designed to shield Iranian air assets from potential American strikes.
For crypto markets, the fallout was immediate. Bitcoin dropped to $80.5K on May 12, while the CoinDesk 100 index slipped 1.5%. Oil prices surged to $126 per barrel, adding to the risk-off mood sweeping through digital assets.
Iran’s cryptocurrency holdings reached an estimated $7.8B by 2025, built largely to bypass US sanctions. By early 2026, sanctions-busting transaction flows linked to Iran had surged to $104B. On April 24, 2026, the US Treasury froze $344M in digital assets connected to Iran.
The Pakistan basing decision adds a kinetic military dimension to a complex economic confrontation. Nur Khan Air Base, near Islamabad, is one of Pakistan’s most strategically important installations.
Bitcoin at $80.5K represents a meaningful pullback from recent levels. The $344M Treasury freeze sets a precedent: every exchange, DeFi protocol, and OTC desk that has touched Iranian-linked funds is now recalculating risk. Oil at $126 per barrel also pressures miners operating on thin margins.
The CoinDesk 100 index dropping 1.5% alongside Bitcoin’s slide to $80.5K reflects the market digesting the possibility that this geopolitical crisis could persist through 2026.