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Iran fires missiles at Israel for first time since ceasefire, rattling crypto markets
Multiple waves of ballistic missiles targeted northern Israel on June 7, marking the first Iranian strike since the April 8 ceasefire and reigniting fears of broader regional war.
Iran launched ballistic missiles at northern Israel on June 7, 2026, shattering a fragile ceasefire that had held since April 8. The Israel Defense Forces confirmed defensive sirens were activated and interception efforts were underway as multiple waves of projectiles streaked toward Israeli territory.
Iran’s Islamic Revolutionary Guard Corps claimed the operation targeted Ramat David Airbase, a key military installation in northern Israel. The IRGC framed the attack as retaliation for an Israeli strike in Beirut earlier that same day, which Tehran described as crossing its “red lines.”
Israel didn’t wait long to respond. Within hours, Israeli airstrikes hit Iranian military positions in western and central Iran.
The broader conflict between these two powers has been escalating since February 28, 2026, when the US and Israel launched nearly 900 strikes on Iranian infrastructure. That campaign effectively ended whatever remained of diplomatic negotiations at the time. The April 8 ceasefire was supposed to be a turning point. It lasted exactly two months. Negotiations reportedly continue with US involvement.
Bitcoin and Ethereum have historically faced downward pressure during similar escalations in the region. The conflict has already impacted oil infrastructure and key shipping chokepoints like the Strait of Hormuz. The Strait of Hormuz handles roughly a fifth of the world’s petroleum supply.