Trump Threatens Strikes on Iran's Nuclear Sites Amid Geopolitical Risk Bites Crypto
President Donald Trump has threatened to launch military strikes on Iran's underground nuclear facilities, including Pickaxe Mountain, a hardened facility near Natanz. This comes as tensions between the US and Iran escalate. The facility, formally known as Kuh-e Kolang Gaz La, is located about 2 kilometers from Natanz and roughly 220 kilometers south of Tehran.
Construction on Pickaxe Mountain began in fall 2020 after a significant incident damaged Iran's centrifuge assembly capacity. Israeli intelligence estimates that thousands of uranium-enrichment centrifuges have been relocated into the facility since the 2025-2026 conflicts, which Trump confirmed the US has 'eyes on.'
The threat of military strikes has already had an impact on the crypto market, with Bitcoin declining by over 2% amid the escalating tensions. This aligns with the pattern seen in previous US-Iran tensions, where Bitcoin tends to move with risk assets.