Crypto Markets Bleed $80 Billion as US Pauses Strikes on Iran

The US has paused its strikes on Iranian targets after a 13-night campaign that drained approximately $80 billion from crypto's total market capitalization. The pause comes as diplomatic talks with Tehran are underway, but President Trump made clear that the military is standing by if negotiations stall.

At least 13 consecutive nights of US strikes focused on Iranian military capabilities deemed a threat to commercial shipping through the Strait of Hormuz. The campaign followed the collapse of a ceasefire established in June, which briefly calmed nerves across global markets and pushed oil prices above $100 per barrel for the first time since May.

Trump's messaging has been dual-track, touting negotiations while reminding Tehran that the US military remains on high alert. Temporary pauses in military operations have historically coincided with diplomatic windows involving Gulf allies.