Iran's Missile Strikes Send Shockwaves Through Crypto Markets

Iran's missile strikes on US military targets in June have sent shockwaves through the crypto markets, causing Bitcoin to drop by over 2% from around $64,000 to approximately $62,000.

The strikes, which targeted installations across six Gulf states between July 12 and 17, 2026, were described as a 'policy' by Iran's Supreme National Security Council secretary Mohammad Bagher Zolghadr. He stated that the country will continue striking US assets until Washington surrenders and Tehran's demands are met.

This is not the first time Iranian military action has affected Bitcoin's price this year, with a similar incident in May pushing the cryptocurrency down from above $80,000 to roughly $79,000. The July escalation was larger in scope, involving strikes across six countries simultaneously and Iran's announcement of re-closing the Strait of Hormuz.

The closure of the Strait of Hormuz could have significant economic implications, with around 20% of global oil supply transiting through this waterway. A sustained closure would likely send oil prices sharply higher, affecting emerging market economies that depend on affordable energy imports and creating inflationary pressure.