Coordinated missile and drone attacks by Iran targeted 11 US military bases across Bahrain, Kuwait, and Jordan, triggering around $350 million in crypto liquidations as Bitcoin dropped over 2% to roughly $62,000. The strikes mark a significant escalation in the ongoing conflict between Tehran and Washington.
Satellite images showed damage to at least 228 US military-related structures, including air-defense systems and support shelters at sites like Muwaffaq Salti Air Base in Jordan and Sheikh Isa Base in Bahrain. The attacks affected targets in at least six countries, continuing a series of Iranian operations throughout 2026.
Iran had warned of ongoing "destructive drone" assaults on US forces in Kuwait earlier this month with threats of further retaliation. The escalation follows Israeli and US operations against Iranian targets, with Tehran responding, particularly around the Strait of Hormuz, a key oil transit route.
The sudden Bitcoin price drop sparked forced liquidations among leveraged crypto traders, wiping out $350 million in positions during what became a rapid risk-off event. Geopolitical shocks have historically driven similar selloffs as investors seek safe havens like the dollar and gold.
Heightened conflict across six countries raises concerns over potential disruptions to energy markets, shipping, and diplomatic ties in the Middle East. Any interruption of oil flows through the Strait of Hormuz would likely lead to energy price spikes, adding pressure on risk assets including cryptocurrencies.
This article provides information only and does not constitute financial advice.
