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Trump announces expanded bombing operations against Iran as crypto markets brace for volatility
Bitcoin already slid below $63K after initial strikes earlier this year, and traders are bracing for another round of geopolitical turbulence as the president signals bigger attacks tonight.
President Trump announced that the US will carry out “more and bigger” bombing strikes on Iran tonight, marking another escalation in a conflict that has already claimed over 1,000 lives and sent shockwaves through global energy and crypto markets.
The statement comes amid an intensifying military campaign that began on February 28, 2026, when coordinated US-Israeli airstrikes launched under “Operation Epic Fury” targeted Iranian military infrastructure.
What’s happened so far
On February 28, Trump announced “major combat operations” against Iran. The strikes that followed were jointly executed with Israel, targeting military sites across the country.
Early in 2026, Trump briefly paused attacks at the request of Gulf state leaders while negotiations were attempted. That pause didn’t last. Operational readiness was maintained throughout, and when talks stalled, the strikes resumed.
The most recent round came on June 9-10, when US Central Command executed strikes on Iranian surveillance, communications, and air defense systems. CENTCOM framed the operation as self-defense, citing the downing of a US Apache helicopter as the proximate trigger.
Iranian state media reports that casualties have surpassed 1,000. Oil flow through the Strait of Hormuz, which handles roughly a fifth of the world’s petroleum trade, has been severely disrupted.
How crypto reacted the first time
When news of the initial February strikes broke, Bitcoin dropped below $63K. But then Bitcoin recovered toward the $67K to $68K range as the conflict continued without immediate resolution. Ethereum followed a similar trajectory, experiencing notable price swings that tracked the broader risk sentiment in markets.
What this means for investors
The oil disruption angle deserves particular attention. When energy prices spike due to supply constraints, the knock-on effects ripple through every sector of the global economy. In previous cycles, this kind of environment has driven interest toward digital commodities, including gold-backed tokens like XAUT and oil-linked perpetual contracts.
The fact that Trump paused operations once before at the request of Gulf leaders, only to resume and now escalate, tells you something about the trajectory here.