US Strikes Rock Iran's Bandar Abbas Amid Unusually Calm Crypto Markets

US military strikes have escalated against Iranian targets, with three explosions confirmed east of Bandar Abbas on Tuesday. According to Iran's state news agency IRNA, the blasts occurred as part of a US effort to degrade Iran's capacity to threaten commercial shipping.

The Strait of Hormuz, which passes through Bandar Abbas, is a critical oil chokepoint, handling roughly one-fifth of the world's oil traffic. Iranian authorities have since declared the strait closed until further notice.

In contrast to previous incidents near Bandar Abbas this year, crypto markets showed unusual calmness, with Bitcoin trading at $63,800 and Ether holding near $1,800.