A recent escalation of tensions between the US and Iran has caused significant disruptions to global markets. On May 25-26, 2026, the US military launched a defensive operation against Iranian missile launch sites and vessels laying mines near Bandar Abbas. The operation was aimed at protecting American troops and shipping lanes in the region.
In response, Iran's Islamic Revolutionary Guard Corps launched retaliatory missile strikes against US-linked bases in the area. This tit-for-tat exchange has effectively demolished weeks of fragile diplomacy between the two nations.
The incident has had a profound impact on global markets, particularly the crypto market. Bitcoin's value plummeted below $73,000, its lowest level in six weeks, resulting in over $80 billion in market capitalization lost within 24 hours. The broader digital asset market also suffered significant losses, with approximately $1 billion in leveraged positions liquidated across major trading platforms.