US Strikes Iranian Missile Sites Amid Escalating Tensions

On June 26, 2026, the US military launched strikes against Iranian missile and drone storage facilities in response to a recent attack on a commercial vessel in the Strait of Hormuz.

The M/V Ever Lovely, a Singapore-flagged ship, was targeted by an Iranian drone on June 25, 2026. The incident marked one of several escalations in tensions between Washington and Tehran.

The US strikes also hit coastal radar installations inside Iran, which are used to track shipping traffic through the Strait of Hormuz.

Bitcoin's price dropped below $73,000 during a similar escalation in May 2026, resulting in nearly $1 billion in leveraged liquidations. The cryptocurrency market remains heavily leveraged, and macro shocks can quickly trigger margin calls and market volatility.