Key facts
- Bitcoin price fell below $77,000 following U.S. military strikes against Iranian targets.
- Ethereum also declined below $2,400.
- Approximately $115 million in long crypto positions were liquidated.
- U.S. oil prices surged toward $90 per barrel amid increased risks in the Strait of Hormuz.
- President Donald Trump issued a warning to Iran against retaliation.
Bitcoin's price has fallen below $77,000 as new U.S. military strikes against Iranian targets increase pressure across global markets. At press time, Bitcoin was trading around $76,762 after also dropping below the $77,000 level. Ethereum has also fallen below $2,400, with approximately $115 million in long positions liquidated within an hour, according to Coinglass. The U.S. Central Command stated that U.S. forces began striking Islamic Revolutionary Guard Corps targets in Iran, linking the action to recent attempted attacks around the Strait of Hormuz. Iranian state media reported explosions on Qeshm Island, Bandar Abbas, and Chabahar. The decline is not limited to cryptocurrency markets, with the S&P 500 falling to its lowest level since August 4, while U.S. Treasury yields are rising. U.S. oil prices are moving toward $90 per barrel, with Brent crude nearing $93, as traders monitor shipping conditions around the Strait of Hormuz. Two tankers were reportedly hit while leaving the Strait of Hormuz, adding further supply concerns. Iranian officials continue to warn that Gulf oil exports could face disruption if military and economic pressure increases. President Donald Trump described the latest U.S. strikes as 'large and powerful' and warned Iran against launching another military response, stating Iran would face a 'much harder and higher level' of attack if it retaliated. An Islamic Revolutionary Guard Corps spokesperson said the United States 'will regret its new attacks.'