US Strikes Spark Global Crypto Meltdown, Bitcoin Plunges Below $73,000

The US military launched airstrikes on Iranian targets over May 25-27, hitting missile sites, boats, and a ground control station near Bandar Abbas. The strikes sent shockwaves through crypto markets, with Bitcoin dropping below $73,000, its lowest price in months.

The broader digital asset market shed around $80 billion in total value, while the damage across other cryptocurrencies was significant. Ethereum, Solana, and XRP all fell between 2% and 4% in value.

The Pentagon framed the strikes as self-defense measures responding to Iranian drone and missile activities threatening American forces and shipping lanes in the Strait of Hormuz. Iran called them a violation of an already fragile ceasefire established in early April.